Phillips 66 (NYSE:PSX) Stake Lifted by Strategic Planning Group LLC

Strategic Planning Group LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,574 shares of the oil and gas company’s stock after purchasing an additional 1,857 shares during the period. Strategic Planning Group LLC’s holdings in Phillips 66 were worth $3,255,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% during 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 acquiring an additional 2,467,316 shares during the period. ING Groep NV boosted its position in shares of 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 valued at $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Bank of Montreal Can grew its stake in shares of 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 during the last quarter. Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. lifted its stake in 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 valued at $96,294,000 after purchasing an additional 309,507 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research reports. 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. 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 report on Monday, January 13th. Wells Fargo & Company cut their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Mizuho decreased their target price 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, Scotiabank cut 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 report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Trading Up 0.8 %

Shares of NYSE:PSX opened at $122.20 on Thursday. The firm has a fifty day moving average of $121.27 and a two-hundred day moving average of $128.82. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a market capitalization of $50.47 billion, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities analysts expect that Phillips 66 will post 6.41 EPS for the current fiscal year.

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.