Segment Wealth Management LLC Buys 262 Shares of Phillips 66 (NYSE:PSX)

Segment Wealth Management LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,467 shares of the oil and gas company’s stock after acquiring an additional 262 shares during the quarter. Segment Wealth Management LLC’s holdings in Phillips 66 were worth $1,192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. purchased a new stake in Phillips 66 in the 3rd quarter worth $30,000. Point72 Hong Kong Ltd bought a new stake in Phillips 66 during the third quarter valued at about $40,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Phillips 66 in the second quarter valued at about $51,000. Finally, Hoese & Co LLP grew its position in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Scotiabank decreased their price target 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. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Trading Up 0.8 %

PSX opened at $120.64 on Tuesday. 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 stock’s 50 day moving average price is $122.47 and its 200-day moving average price is $129.59. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock has a market cap of $49.82 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 3.76 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the company posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 6.51 EPS for the current year.

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.