Cullinan Associates Inc. Sells 500 Shares of Phillips 66 (NYSE:PSX)

Cullinan Associates Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 9,739 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Cullinan Associates Inc.’s holdings in Phillips 66 were worth $1,110,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Phillips 66 by 0.6% in 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 buying an additional 16,941 shares during the last quarter. Mizuho Securities USA LLC increased its position in shares of Phillips 66 by 7,549.0% during 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 buying an additional 2,467,316 shares during the period. Bank of Montreal Can raised its stake in Phillips 66 by 63.4% in 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. ING Groep NV lifted its holdings in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the period. Finally, National Pension Service boosted its position in Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after acquiring an additional 63,349 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.0 %

PSX opened at $117.85 on Tuesday. The stock has a market cap of $48.67 billion, a price-to-earnings ratio of 23.86, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm’s fifty day moving average is $120.54 and its 200 day moving average is $128.39. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 previous year, the company earned $3.09 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSX shares. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock 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.