SG Americas Securities LLC Acquires 34,833 Shares of Phillips 66 (NYSE:PSX)

SG Americas Securities LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 21.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 193,528 shares of the oil and gas company’s stock after buying an additional 34,833 shares during the quarter. SG Americas Securities LLC’s holdings in Phillips 66 were worth $22,049,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Mizuho Securities USA LLC boosted its stake in shares of 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 valued at $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV increased its holdings in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can increased its holdings in 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 bought a new position in Phillips 66 in the 3rd quarter valued at approximately $70,983,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of 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 purchasing an additional 309,507 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Barclays decreased their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Down 1.6 %

NYSE:PSX opened at $118.55 on Thursday. The firm’s 50 day moving average is $122.18 and its 200 day moving average is $129.32. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock has a market capitalization of $48.96 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 3.84 and a beta of 1.38. 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 (NYSE:PSX) last posted its earnings results 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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Sell-side analysts expect that Phillips 66 will post 6.41 earnings per share for the current year.

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.