Empowered Funds LLC Increases Holdings in Phillips 66 (NYSE:PSX)

Empowered Funds LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 10.1% in the fourth quarter, Holdings Channel reports. The firm owned 168,514 shares of the oil and gas company’s stock after acquiring an additional 15,462 shares during the period. Empowered Funds LLC’s holdings in Phillips 66 were worth $19,199,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. ING Groep NV boosted its position in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can boosted its position 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 valued at $214,120,000 after buying an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC purchased a new position in Phillips 66 in the 3rd quarter valued at about $70,983,000. Finally, Assenagon Asset Management S.A. boosted its position in Phillips 66 by 73.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after buying an additional 309,507 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE PSX opened at $120.45 on Friday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $49.74 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a 50-day moving average price of $119.29 and a two-hundred day moving average price of $127.93.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 prior year, the firm posted $3.09 earnings per share. Analysts forecast that Phillips 66 will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wolfe Research raised 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 report on Friday, January 3rd. Mizuho decreased their price objective 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. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, Wells Fargo & Company upped their target price 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.