Hartford Financial Management Inc. Sells 107 Shares of Phillips 66 (NYSE:PSX)

Hartford Financial Management Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,796 shares of the oil and gas company’s stock after selling 107 shares during the quarter. Hartford Financial Management Inc.’s holdings in Phillips 66 were worth $2,255,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Phillips 66 by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 39,449 shares of the oil and gas company’s stock valued at $5,569,000 after acquiring an additional 2,596 shares in the last quarter. Advisory Alpha LLC raised its holdings in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after purchasing an additional 76 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 during the second quarter valued at about $51,000. Sanctuary Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth about $16,675,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Phillips 66 by 243.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 423,000 shares of the oil and gas company’s stock worth $59,715,000 after buying an additional 300,000 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.2 %

PSX stock opened at $120.71 on Friday. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The stock has a market cap of $49.85 billion, a price-to-earnings ratio of 15.50, a price-to-earnings-growth ratio of 4.03 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 company’s 50 day moving average is $121.08 and its 200 day moving average is $128.77.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (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 company 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 business earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 6.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho reduced their target price on shares of 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, Scotiabank lowered 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 research report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

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.