SeaCrest Wealth Management LLC Trims Stake in Phillips 66 (NYSE:PSX)

SeaCrest Wealth Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 25.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,799 shares of the oil and gas company’s stock after selling 1,288 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Phillips 66 were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter worth about $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP raised its position in Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $119.68 on Friday. The stock’s 50-day simple moving average is $122.73 and its 200-day simple moving average is $129.95. The firm has a market capitalization of $49.43 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the firm earned $4.63 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PSX shares. Wolfe Research raised 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. Wells Fargo & Company cut their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Mizuho dropped their price objective 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. Finally, UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average 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.