Phillips 66 (NYSE:PSX) Shares Purchased by Pinnacle Bancorp Inc.

Pinnacle Bancorp Inc. raised its holdings in Phillips 66 (NYSE:PSX) by 3.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,535 shares of the oil and gas company’s stock after buying an additional 95 shares during the period. Pinnacle Bancorp Inc.’s holdings in Phillips 66 were worth $289,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PSX. Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV increased its stake in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can raised its holdings 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 in the last quarter. Mizuho Markets Americas LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $70,983,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock valued at $62,545,000 after buying an additional 377,314 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on PSX shares. UBS Group cut 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. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX opened at $119.04 on Thursday. The stock has a market capitalization of $49.16 billion, a P/E ratio of 15.28, a P/E/G ratio of 3.17 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company’s fifty day moving average is $122.91 and its two-hundred day moving average is $130.03.

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

Phillips 66 Company 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.