Phillips 66 (NYSE:PSX) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 2.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,872 shares of the oil and gas company’s stock after buying an additional 120 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Phillips 66 were worth $555,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Silver Lake Advisory LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at about $280,000. NewEdge Advisors LLC increased its stake in shares of Phillips 66 by 26.4% in the second quarter. NewEdge Advisors LLC now owns 107,264 shares of the oil and gas company’s stock valued at $15,142,000 after buying an additional 22,382 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Phillips 66 by 7.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 39,449 shares of the oil and gas company’s stock valued at $5,569,000 after purchasing an additional 2,596 shares during the period. William B. Walkup & Associates Inc. acquired a new position in Phillips 66 during the second quarter valued at approximately $2,122,000. Finally, Second Line Capital LLC raised its holdings in shares of Phillips 66 by 88.2% during the second quarter. Second Line Capital LLC now owns 3,091 shares of the oil and gas company’s stock worth $436,000 after acquiring an additional 1,449 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $123.03 on Tuesday. 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 $121.63 and a 200-day moving average price of $129.04. The firm has a market capitalization of $50.81 billion, a PE ratio of 15.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.38. 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 for the quarter, beating 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 company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm earned $4.63 earnings per share. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 6.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on PSX shares. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Barclays reduced their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

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.