Cullinan Associates Inc. Sells 500 Shares of Phillips 66 (NYSE:PSX)

Cullinan Associates Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 4.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,739 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Cullinan Associates Inc.’s holdings in Phillips 66 were worth $1,110,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at $26,000. Values First Advisors Inc. purchased a new stake in Phillips 66 in the 3rd quarter worth about $30,000. Webster Bank N. A. lifted its stake in 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 purchasing an additional 88 shares during the last quarter. Crews Bank & Trust bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $32,000. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $117.85 on Tuesday. The stock has a market capitalization of $48.67 billion, a P/E ratio of 23.86, a P/E/G ratio of 3.89 and a beta of 1.37. The company’s fifty day moving average price is $120.54 and its 200 day moving average price is $128.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business posted $3.09 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. UBS Group decreased their price objective 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. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Scotiabank cut 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 report on Thursday, October 10th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.