Sharp Financial Services LLC Sells 1,650 Shares of Phillips 66 (NYSE:PSX)

Sharp Financial Services LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 34.6% in the 4th quarter, Holdings Channel reports. The fund owned 3,121 shares of the oil and gas company’s stock after selling 1,650 shares during the quarter. Sharp Financial Services LLC’s holdings in Phillips 66 were worth $356,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. purchased a new stake in Phillips 66 during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 during the 3rd quarter valued at about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in Phillips 66 during the 2nd quarter valued at about $51,000. Finally, Hoese & Co LLP grew its position in Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PSX. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho dropped their price target 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. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $118.55 on Thursday. The firm’s 50 day moving average price is $122.18 and its 200-day moving average price is $129.32. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $48.96 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 3.84 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the business earned $4.63 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 6.41 EPS for the current 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.