abrdn plc Sells 19,733 Shares of Phillips 66 (NYSE:PSX)

abrdn plc reduced its stake in shares of Phillips 66 (NYSE:PSX) by 4.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 387,154 shares of the oil and gas company’s stock after selling 19,733 shares during the period. abrdn plc owned approximately 0.09% of Phillips 66 worth $43,892,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Trust Point Inc. increased its position in shares of Phillips 66 by 14.6% during the fourth quarter. Trust Point Inc. now owns 2,265 shares of the oil and gas company’s stock valued at $258,000 after buying an additional 289 shares during the period. F&V Capital Management LLC grew its holdings in Phillips 66 by 0.4% in the fourth quarter. F&V Capital Management LLC now owns 134,240 shares of the oil and gas company’s stock worth $15,294,000 after purchasing an additional 555 shares during the period. Chicago Capital LLC grew its holdings in Phillips 66 by 12.2% in the fourth quarter. Chicago Capital LLC now owns 1,842 shares of the oil and gas company’s stock worth $210,000 after purchasing an additional 200 shares during the period. Western Pacific Wealth Management LP grew its holdings in Phillips 66 by 211.8% in the fourth quarter. Western Pacific Wealth Management LP now owns 2,635 shares of the oil and gas company’s stock worth $300,000 after purchasing an additional 1,790 shares during the period. Finally, U.S. Capital Wealth Advisors LLC grew its holdings in Phillips 66 by 6.2% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 14,634 shares of the oil and gas company’s stock worth $1,667,000 after purchasing an additional 855 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 0.2 %

Shares of PSX opened at $123.31 on Thursday. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a 50-day moving average of $120.01 and a 200 day moving average of $128.15. The firm has a market capitalization of $50.93 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 3.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 posted $3.09 EPS. On average, research analysts expect that Phillips 66 will post 7.57 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PSX shares. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays lowered 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 research report on Monday, January 13th. Finally, Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. 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 stock. According to MarketBeat, Phillips 66 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.