Adirondack Trust Co. Sells 102 Shares of Phillips 66 (NYSE:PSX)

Adirondack Trust Co. lowered its holdings in Phillips 66 (NYSE:PSX) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,923 shares of the oil and gas company’s stock after selling 102 shares during the quarter. Adirondack Trust Co.’s holdings in Phillips 66 were worth $1,130,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% in 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 during the last quarter. ING Groep NV lifted its position in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can grew its position in shares of Phillips 66 by 63.4% during 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 buying an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 during the third quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. boosted its stake in Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after acquiring an additional 309,507 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company lowered their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Down 1.6 %

Shares of Phillips 66 stock opened at $118.55 on Thursday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. 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 business’s 50 day simple moving average is $121.95 and its 200 day simple moving average is $129.24. The firm has a market cap of $48.96 billion, a PE ratio of 15.22, a P/E/G ratio of 3.84 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, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.63 earnings per share. On average, analysts predict that Phillips 66 will post 6.41 earnings per share for the current fiscal 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.