Financial Advocates Investment Management Decreases Position in Phillips 66 (NYSE:PSX)

Financial Advocates Investment Management decreased its holdings in Phillips 66 (NYSE:PSX) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 10,180 shares of the oil and gas company’s stock after selling 626 shares during the quarter. Financial Advocates Investment Management’s holdings in Phillips 66 were worth $1,160,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. CWM LLC increased its holdings in Phillips 66 by 23.0% during the 3rd quarter. CWM LLC now owns 28,618 shares of the oil and gas company’s stock worth $3,762,000 after purchasing an additional 5,350 shares during the period. Sanibel Captiva Trust Company Inc. grew its position in shares of Phillips 66 by 3.0% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 6,869 shares of the oil and gas company’s stock worth $903,000 after buying an additional 203 shares in the last quarter. Hoese & Co LLP increased its stake in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after buying an additional 100 shares during the period. San Luis Wealth Advisors LLC raised its holdings in Phillips 66 by 101.1% in the third quarter. San Luis Wealth Advisors LLC now owns 5,153 shares of the oil and gas company’s stock valued at $677,000 after acquiring an additional 2,590 shares in the last quarter. Finally, CCM Investment Advisers LLC lifted its stake in Phillips 66 by 15.9% in the third quarter. CCM Investment Advisers LLC now owns 105,150 shares of the oil and gas company’s stock worth $13,822,000 after acquiring an additional 14,425 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $120.45 on Friday. The business’s 50-day moving average price is $119.56 and its 200 day moving average price is $128.06. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $49.74 billion, a P/E ratio of 24.38, a P/E/G ratio of 3.89 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company posted $3.09 EPS. On average, equities research analysts expect that Phillips 66 will post 7.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Bank of America started 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. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.