Phillips 66 (NYSE:PSX) Shares Purchased by Sonora Investment Management Group LLC

Sonora Investment Management Group LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 22.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 26,196 shares of the oil and gas company’s stock after acquiring an additional 4,844 shares during the period. Sonora Investment Management Group LLC’s holdings in Phillips 66 were worth $2,985,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Van ECK Associates Corp grew its position in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares during the period. Everence Capital Management Inc. purchased a new position in Phillips 66 in the 4th quarter valued at approximately $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 during the fourth quarter worth $1,438,000. Mizuho Securities USA LLC grew its holdings 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 valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Finally, Annex Advisory Services LLC increased its position in shares of Phillips 66 by 25.7% in the fourth quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock valued at $18,562,000 after buying an additional 33,290 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PSX. Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Finally, Scotiabank decreased 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 note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $120.71 on Friday. The company has a market capitalization of $49.85 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 4.03 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The business has a 50-day moving average of $121.08 and a 200-day moving average of $128.77.

Phillips 66 (NYSE:PSX) last posted 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. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.63 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.27 EPS for the current fiscal year.

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.