Southland Equity Partners LLC Acquires 573 Shares of Phillips 66 (NYSE:PSX)

Southland Equity Partners LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 17.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,818 shares of the oil and gas company’s stock after acquiring an additional 573 shares during the quarter. Southland Equity Partners LLC’s holdings in Phillips 66 were worth $435,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sound Income Strategies LLC increased its stake in shares of Phillips 66 by 34.8% in the fourth quarter. Sound Income Strategies LLC now owns 620 shares of the oil and gas company’s stock worth $71,000 after purchasing an additional 160 shares during the period. LexAurum Advisors LLC acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $380,000. RFG Advisory LLC increased its position in Phillips 66 by 9.2% in the 4th quarter. RFG Advisory LLC now owns 7,362 shares of the oil and gas company’s stock worth $839,000 after buying an additional 623 shares during the period. Cornerstone Wealth Management LLC lifted its holdings in shares of Phillips 66 by 10.9% during the fourth quarter. Cornerstone Wealth Management LLC now owns 7,000 shares of the oil and gas company’s stock worth $798,000 after buying an additional 686 shares during the last quarter. Finally, Brighton Jones LLC boosted its position in shares of Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 3.4 %

Shares of Phillips 66 stock opened at $122.62 on Friday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The stock has a market capitalization of $50.64 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. The company has a 50-day simple moving average of $121.95 and a 200 day simple moving average of $129.24. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $4.63 earnings per share. Research analysts expect that Phillips 66 will post 6.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PSX shares. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average 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.