RDA Financial Network Raises Stock Position in Phillips 66 (NYSE:PSX)

RDA Financial Network raised its holdings in shares of Phillips 66 (NYSE:PSX) by 5.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,619 shares of the oil and gas company’s stock after buying an additional 174 shares during the period. RDA Financial Network’s holdings in Phillips 66 were worth $412,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. KMG Fiduciary Partners LLC lifted its holdings in Phillips 66 by 19.7% in the 4th quarter. KMG Fiduciary Partners LLC now owns 18,017 shares of the oil and gas company’s stock worth $2,053,000 after purchasing an additional 2,960 shares in the last quarter. Empirical Asset Management LLC raised its position in shares of Phillips 66 by 47.7% during the fourth quarter. Empirical Asset Management LLC now owns 35,148 shares of the oil and gas company’s stock valued at $4,004,000 after buying an additional 11,346 shares during the last quarter. Bennett Associates Wealth Management lifted its holdings in shares of Phillips 66 by 10.9% in the fourth quarter. Bennett Associates Wealth Management now owns 4,300 shares of the oil and gas company’s stock worth $490,000 after buying an additional 421 shares in the last quarter. Capital Advisors Wealth Management LLC boosted its position in shares of Phillips 66 by 7.1% during the fourth quarter. Capital Advisors Wealth Management LLC now owns 8,935 shares of the oil and gas company’s stock worth $1,018,000 after acquiring an additional 589 shares during the last quarter. Finally, Tallon Kerry Patrick purchased a new position in Phillips 66 during the fourth quarter valued at $336,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Phillips 66 stock opened at $120.64 on Friday. The firm has a market capitalization of $49.82 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a 50-day moving average price of $122.59 and a 200-day moving average price of $129.88. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. Barclays decreased their price target on shares of 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. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

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.