RDA Financial Network Buys 174 Shares of Phillips 66 (NYSE:PSX)

RDA Financial Network boosted its stake in shares of Phillips 66 (NYSE:PSX) by 5.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,619 shares of the oil and gas company’s stock after buying an additional 174 shares during the period. RDA Financial Network’s holdings in Phillips 66 were worth $412,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PSX. Legal & General Group Plc raised its position in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips 66 by 0.6% in the third 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake 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 worth $397,193,000 after buying an additional 79,301 shares in 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 acquiring an additional 2,467,316 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.8 %

Shares of PSX stock opened at $120.64 on Friday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm has a fifty day moving average price of $122.59 and a 200-day moving average price of $129.88. The company has a market cap of $49.82 billion, a price-to-earnings ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38. 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 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company reduced their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Finally, Bank of America initiated 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 on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Company 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.