Burney Co. Sells 13,003 Shares of Phillips 66 (NYSE:PSX)

Burney Co. lessened its stake in Phillips 66 (NYSE:PSX) by 41.9% during the fourth quarter, HoldingsChannel reports. The firm owned 18,009 shares of the oil and gas company’s stock after selling 13,003 shares during the period. Burney Co.’s holdings in Phillips 66 were worth $2,052,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the company. Legal & General Group Plc raised its stake in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after acquiring an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its stake in Phillips 66 by 2.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after acquiring an additional 79,301 shares during the period. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

PSX stock opened at $119.04 on Thursday. The firm has a 50 day simple moving average of $122.91 and a two-hundred day simple moving average of $130.03. The stock has a market cap of $49.16 billion, a PE ratio of 15.28, a P/E/G ratio of 3.17 and a beta of 1.38. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the business earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 7.22 EPS for the current fiscal year.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.