Manning & Napier Advisors LLC Has $13.12 Million Holdings in Phillips 66 (NYSE:PSX)

Manning & Napier Advisors LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 115,135 shares of the oil and gas company’s stock after selling 4,103 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Phillips 66 were worth $13,117,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Everence Capital Management Inc. bought a new position in Phillips 66 in the 4th quarter valued at $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 in the 4th quarter valued at $1,438,000. Mizuho Securities USA LLC increased its stake in shares of Phillips 66 by 7,549.0% in the 3rd 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, Annex Advisory Services LLC raised its position in shares of Phillips 66 by 25.7% during the fourth quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after acquiring an additional 33,290 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.8 %

NYSE:PSX opened at $122.20 on Thursday. The company has a market cap of $50.47 billion, a PE ratio of 15.69, a PEG ratio of 3.78 and a beta of 1.38. The stock has a 50-day simple moving average of $121.27 and a 200 day simple moving average of $128.82. 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 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the company earned $4.63 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Phillips 66 will post 6.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PSX. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Wells Fargo & Company cut their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.