Brady Family Wealth LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

Brady Family Wealth LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,628 shares of the oil and gas company’s stock after selling 419 shares during the period. Phillips 66 makes up about 1.3% of Brady Family Wealth LLC’s portfolio, making the stock its 29th biggest holding. Brady Family Wealth LLC’s holdings in Phillips 66 were worth $4,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PSX. Citizens Financial Group Inc. RI boosted its stake in Phillips 66 by 68.2% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,692 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 1,497 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Phillips 66 by 2.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 112,280 shares of the oil and gas company’s stock valued at $15,851,000 after purchasing an additional 2,582 shares in the last quarter. Argent Trust Co lifted its position in shares of Phillips 66 by 3.1% during the second quarter. Argent Trust Co now owns 8,715 shares of the oil and gas company’s stock worth $1,230,000 after purchasing an additional 262 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Phillips 66 by 10.7% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,595 shares of the oil and gas company’s stock worth $2,202,000 after purchasing an additional 1,504 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in Phillips 66 by 6.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,815 shares of the oil and gas company’s stock valued at $5,023,000 after buying an additional 2,330 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on PSX shares. 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 report on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX stock opened at $119.04 on Thursday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $49.16 billion, a price-to-earnings ratio of 15.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The business has a 50 day simple moving average of $122.91 and a 200 day simple moving average of $130.03.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping 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 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 business posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities research analysts anticipate that Phillips 66 will post 7.22 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.