Moss Adams Wealth Advisors LLC Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Moss Adams Wealth Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 13.2% during the fourth quarter, Holdings Channel reports. The firm owned 1,946 shares of the oil and gas company’s stock after selling 297 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Phillips 66 were worth $222,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Phillips 66 by 0.5% during 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 acquiring an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Phillips 66 by 0.6% during 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 purchasing an additional 16,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of 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 worth $397,193,000 after buying an additional 79,301 shares during the last quarter. Mizuho Securities USA LLC grew its position 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 buying an additional 2,467,316 shares during the period. Finally, Bank of Montreal Can increased 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 buying an additional 633,970 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

PSX stock opened at $120.64 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm’s 50-day moving average price is $122.47 and its two-hundred day moving average price is $129.66.

Phillips 66 (NYSE:PSX) last released its quarterly 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business posted $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

About Phillips 66

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.