Phillips 66 (NYSE:PSX) Shares Bought by Archer Investment Corp

Archer Investment Corp grew its position in shares of Phillips 66 (NYSE:PSX) by 222.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,074 shares of the oil and gas company’s stock after buying an additional 3,501 shares during the period. Archer Investment Corp’s holdings in Phillips 66 were worth $578,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Van ECK Associates Corp increased its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the period. Everence Capital Management Inc. acquired a new stake in shares of Phillips 66 in the fourth quarter worth $3,033,000. Donoghue Forlines LLC bought a new stake in shares of Phillips 66 during the 4th quarter worth $1,438,000. Mizuho Securities USA LLC lifted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Finally, Smith Group Asset Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $1,149,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PSX. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Down 2.1 %

Phillips 66 stock opened at $120.71 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a market capitalization of $49.85 billion, a PE ratio of 24.44, a P/E/G ratio of 3.89 and a beta of 1.37. The company’s 50-day moving average is $119.81 and its 200-day moving average is $128.11. 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 issued its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current year.

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.