Welch Group LLC Lowers Position in Phillips 66 (NYSE:PSX)

Welch Group LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,494 shares of the oil and gas company’s stock after selling 153 shares during the quarter. Welch Group LLC’s holdings in Phillips 66 were worth $391,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Brown Lisle Cummings Inc. grew its position in shares of Phillips 66 by 161.8% during the fourth quarter. Brown Lisle Cummings Inc. now owns 720 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 445 shares in the last quarter. Commonwealth Financial Services LLC purchased a new position in Phillips 66 during the 4th quarter valued at approximately $213,000. Rockline Wealth Management LLC increased its stake in Phillips 66 by 5.8% in the 4th quarter. Rockline Wealth Management LLC now owns 22,464 shares of the oil and gas company’s stock worth $2,559,000 after acquiring an additional 1,234 shares during the last quarter. Flavin Financial Services Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $1,190,000. Finally, Trust Point Inc. boosted its position in shares of Phillips 66 by 14.6% during the 4th quarter. Trust Point Inc. now owns 2,265 shares of the oil and gas company’s stock valued at $258,000 after acquiring an additional 289 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Down 0.0 %

Shares of PSX opened at $117.85 on Tuesday. The firm has a market capitalization of $48.67 billion, a P/E ratio of 23.86, a P/E/G ratio of 3.89 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a fifty day moving average price of $120.54 and a 200-day moving average price of $128.39. 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 issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the company earned $3.09 earnings per share. Equities research analysts expect that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 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.