KMG Fiduciary Partners LLC Grows Stock Holdings in Phillips 66 (NYSE:PSX)

KMG Fiduciary Partners LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 19.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 18,017 shares of the oil and gas company’s stock after purchasing an additional 2,960 shares during the period. KMG Fiduciary Partners LLC’s holdings in Phillips 66 were worth $2,053,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. nVerses Capital LLC bought a new stake in Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd bought a new stake in shares of Phillips 66 in the 3rd quarter worth about $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Phillips 66 in the 2nd quarter worth about $51,000. Finally, Hoese & Co LLP increased its holdings in shares of Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $119.68 on Friday. The company has a 50 day moving average price of $122.73 and a 200-day moving average price of $129.95. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock has a market capitalization of $49.43 billion, a PE ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38. 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 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating 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 company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the company posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average 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.