Gladstone Institutional Advisory LLC Has $3.71 Million Stock Position in Phillips 66 (NYSE:PSX)

Gladstone Institutional Advisory LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 11.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,535 shares of the oil and gas company’s stock after acquiring an additional 3,341 shares during the quarter. Gladstone Institutional Advisory LLC’s holdings in Phillips 66 were worth $3,707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PSX. Exchange Traded Concepts LLC lifted its position in Phillips 66 by 22.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock worth $721,000 after buying an additional 1,014 shares in the last quarter. Armstrong Advisory Group Inc. increased its position in Phillips 66 by 10.4% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 1,303 shares of the oil and gas company’s stock worth $171,000 after purchasing an additional 123 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its stake in shares of Phillips 66 by 1,075.7% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 15,684 shares of the oil and gas company’s stock worth $2,062,000 after purchasing an additional 14,350 shares in the last quarter. Procyon Advisors LLC lifted its holdings in shares of Phillips 66 by 2.6% during the 3rd quarter. Procyon Advisors LLC now owns 16,638 shares of the oil and gas company’s stock valued at $2,187,000 after buying an additional 425 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $75,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $129.74 on Wednesday. The business has a 50 day simple moving average of $119.04 and a 200 day simple moving average of $127.66. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a market capitalization of $53.58 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the business posted $3.09 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PSX shares. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays reduced their price objective on shares of 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. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.