Leavell Investment Management Inc. Cuts Stake in Phillips 66 (NYSE:PSX)

Leavell Investment Management Inc. lowered its stake in Phillips 66 (NYSE:PSX) by 10.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,226 shares of the oil and gas company’s stock after selling 6,214 shares during the quarter. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $6,178,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. Wells Fargo & Company upped their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays reduced their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $129.74 on Wednesday. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. 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 business has a fifty day moving average price of $119.04 and a 200-day moving average price of $127.66. The company has a market capitalization of $53.58 billion, a PE ratio of 26.26, a PEG ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period in the prior year, the company earned $3.09 earnings per share. As a group, equities analysts expect that Phillips 66 will post 7.14 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.