WCM Investment Management LLC Has $2.71 Million Stock Position in Phillips 66 (NYSE:PSX)

WCM Investment Management LLC grew its holdings in Phillips 66 (NYSE:PSX) by 145.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,233 shares of the oil and gas company’s stock after acquiring an additional 14,343 shares during the quarter. WCM Investment Management LLC’s holdings in Phillips 66 were worth $2,714,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. nVerses Capital LLC bought a new position in Phillips 66 in the third quarter valued at $26,000. Stephens Consulting LLC boosted its stake in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Webster Bank N. A. increased its position in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the last quarter. Finally, YANKCOM Partnership bought a new stake in Phillips 66 during the fourth quarter worth about $31,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.9 %

Shares of NYSE:PSX opened at $123.74 on Tuesday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The business has a 50 day moving average of $119.29 and a 200-day moving average of $127.79. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market cap of $51.10 billion, a PE ratio of 25.05, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company earned $3.09 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PSX shares. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Mizuho dropped their price target 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. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.