Phillips 66 (NYSE:PSX) Stock Position Decreased by Franklin Parlapiano Turner & Welch LLC

Franklin Parlapiano Turner & Welch LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 1.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,308 shares of the oil and gas company’s stock after selling 349 shares during the period. Phillips 66 comprises approximately 1.0% of Franklin Parlapiano Turner & Welch LLC’s portfolio, making the stock its 26th biggest position. Franklin Parlapiano Turner & Welch LLC’s holdings in Phillips 66 were worth $3,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter worth $30,000. Webster Bank N. A. boosted its position 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 period. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 in the third quarter worth $40,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $47,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $122.20 on Thursday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. 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 firm has a fifty day moving average of $121.27 and a 200-day moving average of $128.82.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the business earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities research analysts forecast that Phillips 66 will post 6.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Mizuho dropped their price objective 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 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.