Uncommon Cents Investing LLC Trims Stake in Phillips 66 (NYSE:PSX)

Uncommon Cents Investing LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,592 shares of the oil and gas company’s stock after selling 105 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Phillips 66 were worth $409,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Legal & General Group Plc grew its holdings in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Phillips 66 by 2.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after purchasing an additional 79,301 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of 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, Bank of Montreal Can lifted its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSX. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Barclays dropped 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. Scotiabank cut their target price on 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. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Performance

Shares of PSX opened at $120.64 on Monday. The company has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. 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 50 day moving average price of $122.47 and a 200 day moving average price of $129.66.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 EPS. Research analysts predict that Phillips 66 will post 7.22 EPS for the current fiscal 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.