Courier Capital LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

Courier Capital LLC cut its holdings in Phillips 66 (NYSE:PSX) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,381 shares of the oil and gas company’s stock after selling 147 shares during the period. Courier Capital LLC’s holdings in Phillips 66 were worth $385,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Legal & General Group Plc increased its stake in Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after buying an additional 79,301 shares during the period. Mizuho Securities USA LLC lifted its position in 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 worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE PSX opened at $117.03 on Wednesday. The company has a market cap of $48.33 billion, a PE ratio of 15.02, a P/E/G ratio of 4.06 and a beta of 1.38. The firm’s 50 day moving average price is $122.91 and its 200-day moving average price is $130.03. 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 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the company posted $4.63 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho reduced their price objective 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. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Company 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.