Granite Group Advisors LLC Sells 120 Shares of Phillips 66 (NYSE:PSX)

Granite Group Advisors LLC reduced its stake in Phillips 66 (NYSE:PSX) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,087 shares of the oil and gas company’s stock after selling 120 shares during the quarter. Granite Group Advisors LLC’s holdings in Phillips 66 were worth $352,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Drive Wealth Management LLC grew its position in shares of Phillips 66 by 2.6% during the 4th quarter. Drive Wealth Management LLC now owns 7,157 shares of the oil and gas company’s stock worth $815,000 after purchasing an additional 181 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Phillips 66 by 14.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,665 shares of the oil and gas company’s stock valued at $418,000 after buying an additional 473 shares in the last quarter. Stablepoint Partners LLC grew its holdings in shares of Phillips 66 by 1.7% during the 4th quarter. Stablepoint Partners LLC now owns 43,739 shares of the oil and gas company’s stock valued at $4,983,000 after purchasing an additional 720 shares during the last quarter. Vista Investment Partners LLC increased its holdings in Phillips 66 by 8.5% in the 4th quarter. Vista Investment Partners LLC now owns 3,158 shares of the oil and gas company’s stock worth $360,000 after purchasing an additional 248 shares in the last quarter. Finally, First Citizens Bank & Trust Co. raised its holdings in Phillips 66 by 16.9% in the 4th quarter. First Citizens Bank & Trust Co. now owns 3,613 shares of the oil and gas company’s stock valued at $412,000 after buying an additional 522 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PSX. Wolfe Research raised 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. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research report on Monday, December 9th. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Down 0.6 %

Shares of NYSE:PSX opened at $121.82 on Monday. The company has a market cap of $50.31 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.78 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. The stock has a 50 day moving average of $121.63 and a 200 day moving average of $129.07. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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 net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Phillips 66 will post 6.41 EPS 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.