Pin Oak Investment Advisors Inc. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 19.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,324 shares of the oil and gas company’s stock after purchasing an additional 220 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Phillips 66 were worth $114,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Oregon Public Employees Retirement Fund boosted its stake in shares of Phillips 66 by 3,775.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock valued at $54,000 after purchasing an additional 4,527,183 shares in the last quarter. LSV Asset Management boosted its stake in shares of Phillips 66 by 96.9% during the fourth quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock valued at $275,803,000 after purchasing an additional 1,575,744 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Phillips 66 during the third quarter valued at approximately $110,916,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Phillips 66 by 7.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock valued at $1,175,542,000 after purchasing an additional 958,545 shares in the last quarter. Finally, Vanguard Group Inc boosted its stake in shares of Phillips 66 by 2.8% during the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock valued at $3,719,598,000 after purchasing an additional 885,979 shares in the last quarter. Hedge funds and other institutional investors own 71.30% of the company’s stock.
Several equities research analysts have weighed in on PSX shares. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and raised their target price for the company from $105.00 to $107.00 in a research note on Monday, April 15th. Citigroup raised their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Argus lowered their target price on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $120.18.
Shares of NYSE PSX traded down $1.04 during midday trading on Friday, reaching $95.42. The company had a trading volume of 2,400,062 shares, compared to its average volume of 2,135,397. The stock has a market cap of $43.35 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.47 and a beta of 0.94. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.76 by $2.11. The business had revenue of $29.84 billion during the quarter, compared to analysts’ expectations of $35.51 billion. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. During the same quarter last year, the company posted $1.07 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.
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About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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