Phillips 66 (NYSE:PSX) Shares Sold by Custom Index Systems LLC

Custom Index Systems LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 7.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,463 shares of the oil and gas company’s stock after selling 281 shares during the period. Custom Index Systems LLC’s holdings in Phillips 66 were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the third 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 grew its stake in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Phillips 66 by 63.4% in the 3rd 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 acquired a new stake in Phillips 66 during the third quarter valued at approximately $70,983,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after buying an additional 309,507 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on PSX. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Scotiabank decreased their price target on 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. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

PSX opened at $117.24 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a fifty day moving average price of $120.86 and a 200 day moving average price of $128.72. The stock has a market cap of $48.42 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 4.03 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. During the same period last year, the business earned $3.09 EPS. Analysts forecast that Phillips 66 will post 6.27 EPS for the current fiscal 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.