Phillips 66 (NYSE:PSX) Shares Sold by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,308 shares of the oil and gas company’s stock after selling 349 shares during the quarter. Phillips 66 comprises 1.0% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 26th biggest holding. Franklin Parlapiano Turner & Welch LLC’s holdings in Phillips 66 were worth $3,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 by 0.6% during 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 purchasing an additional 16,941 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in 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 worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Bank of Montreal Can raised its holdings 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 purchasing an additional 633,970 shares during the last quarter. ING Groep NV increased its position in 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 worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Finally, National Pension Service increased its position in Phillips 66 by 6.8% during the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock worth $131,678,000 after buying an additional 63,349 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays reduced their target price 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. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Performance

Shares of PSX stock opened at $122.20 on Thursday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The business has a 50 day simple moving average of $121.27 and a 200 day simple moving average of $128.82. 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 data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.63 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.41 EPS for the current year.

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.