PFG Investments LLC Raises Position in Phillips 66 (NYSE:PSX)

PFG Investments LLC grew its position in shares of Phillips 66 (NYSE:PSX) by 5.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 15,304 shares of the oil and gas company’s stock after purchasing an additional 763 shares during the period. PFG Investments LLC’s holdings in Phillips 66 were worth $1,744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV raised its holdings in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. 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 valued at $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC purchased a new stake in Phillips 66 in the third quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after purchasing an additional 309,507 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $123.03 on Tuesday. The company has a market capitalization of $50.81 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The company’s fifty day moving average price is $121.63 and its 200-day moving average price is $129.04. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 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 the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research upgraded 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 report on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.