Phillips 66 (NYSE:PSX) Shares Sold by Mattern Wealth Management LLC

Mattern Wealth Management LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 4.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,988 shares of the oil and gas company’s stock after selling 919 shares during the period. Mattern Wealth Management LLC’s holdings in Phillips 66 were worth $2,277,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nilsine Partners LLC lifted its holdings in shares of Phillips 66 by 56.4% during the 4th quarter. Nilsine Partners LLC now owns 4,059 shares of the oil and gas company’s stock valued at $462,000 after acquiring an additional 1,464 shares in the last quarter. Lebenthal Global Advisors LLC boosted its position in Phillips 66 by 109.1% in the 4th quarter. Lebenthal Global Advisors LLC now owns 7,973 shares of the oil and gas company’s stock valued at $908,000 after buying an additional 4,160 shares during the last quarter. Foundations Investment Advisors LLC increased its holdings in Phillips 66 by 18.1% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,700 shares of the oil and gas company’s stock worth $536,000 after purchasing an additional 721 shares during the last quarter. Parsons Capital Management Inc. RI raised its position in shares of Phillips 66 by 33.5% in the 4th quarter. Parsons Capital Management Inc. RI now owns 37,511 shares of the oil and gas company’s stock valued at $4,274,000 after purchasing an additional 9,412 shares in the last quarter. Finally, Webster Bank N. A. increased its stake in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PSX shares. Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company lowered their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Finally, Scotiabank lowered their target price 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

PSX stock opened at $123.03 on Tuesday. The firm has a market cap of $50.81 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $121.63 and its 200 day simple moving average is $129.04.

Phillips 66 (NYSE:PSX) last issued its earnings results 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. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $4.63 EPS. On average, analysts expect that Phillips 66 will post 6.41 earnings per share 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.