Phillips 66 (NYSE:PSX) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its position in Phillips 66 (NYSE:PSX) by 8.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,075 shares of the oil and gas company’s stock after selling 1,796 shares during the period. Crossmark Global Holdings Inc.’s holdings in Phillips 66 were worth $2,173,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $47,000. Mitchell & Pahl Private Wealth LLC grew its holdings in Phillips 66 by 5.6% in the fourth quarter. Mitchell & Pahl Private Wealth LLC now owns 19,436 shares of the oil and gas company’s stock valued at $2,214,000 after purchasing an additional 1,029 shares during the period. Ballentine Partners LLC grew its holdings in Phillips 66 by 11.4% in the fourth quarter. Ballentine Partners LLC now owns 3,040 shares of the oil and gas company’s stock valued at $346,000 after purchasing an additional 312 shares during the period. ZWJ Investment Counsel Inc. grew its holdings in Phillips 66 by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 256,768 shares of the oil and gas company’s stock valued at $29,254,000 after purchasing an additional 8,801 shares during the period. Finally, Bremer Bank National Association grew its holdings in Phillips 66 by 50.0% in the fourth quarter. Bremer Bank National Association now owns 36,965 shares of the oil and gas company’s stock valued at $4,211,000 after purchasing an additional 12,326 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PSX. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Barclays decreased their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Trading Up 3.4 %

PSX opened at $122.62 on Friday. The stock has a market capitalization of $50.64 billion, a PE ratio of 15.74, a P/E/G ratio of 3.84 and a beta of 1.38. The firm’s fifty day moving average price is $121.95 and its 200 day moving average price is $129.24. 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 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 firm had revenue of $36.16 billion for 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 firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.63 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.41 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.