Equitable Trust Co. Boosts Holdings in Phillips 66 (NYSE:PSX)

Equitable Trust Co. lifted its stake in Phillips 66 (NYSE:PSX) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,329 shares of the oil and gas company’s stock after purchasing an additional 492 shares during the period. Equitable Trust Co.’s holdings in Phillips 66 were worth $2,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. CWM LLC lifted its position in shares of Phillips 66 by 23.0% in 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. Valeo Financial Advisors LLC lifted its position in Phillips 66 by 12.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 14,527 shares of the oil and gas company’s stock valued at $1,910,000 after acquiring an additional 1,647 shares during the period. Gateway Investment Advisers LLC lifted its position in Phillips 66 by 36.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 13,771 shares of the oil and gas company’s stock valued at $1,810,000 after acquiring an additional 3,679 shares during the period. Carnegie Investment Counsel lifted its position in Phillips 66 by 1.8% during the 3rd quarter. Carnegie Investment Counsel now owns 22,788 shares of the oil and gas company’s stock valued at $2,995,000 after acquiring an additional 398 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Phillips 66 by 22.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock valued at $721,000 after acquiring an additional 1,014 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.45 on Monday. The company has a 50 day moving average price of $119.29 and a 200-day moving average price of $127.86. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The firm has a market capitalization of $49.74 billion, a PE ratio of 24.38, a P/E/G ratio of 5.64 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its 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 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $3.09 EPS. As a group, equities research analysts expect that Phillips 66 will post 7.14 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSX. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho lowered their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 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.