Phillips 66 (NYSE:PSX) Shares Sold by New Century Financial Group LLC

New Century Financial Group LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,813 shares of the oil and gas company’s stock after selling 847 shares during the period. New Century Financial Group LLC’s holdings in Phillips 66 were worth $443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter worth approximately $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 in the 3rd quarter worth $40,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at $47,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Phillips 66 during the second quarter valued at about $51,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Price Performance

Shares of PSX opened at $121.82 on Friday. The business’s 50-day moving average is $121.81 and its 200-day moving average is $129.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $50.31 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 3.78 and a beta of 1.38. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results 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 company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.63 EPS. Equities research analysts expect that Phillips 66 will post 6.41 EPS 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.