Phillips 66 (NYSE:PSX) Stake Lowered by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC decreased its stake in Phillips 66 (NYSE:PSX) by 17.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,372 shares of the oil and gas company’s stock after selling 489 shares during the period. Cadent Capital Advisors LLC’s holdings in Phillips 66 were worth $270,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. increased its holdings in shares of Phillips 66 by 3.9% in the 2nd quarter. American Century Companies Inc. now owns 309,478 shares of the oil and gas company’s stock worth $43,689,000 after acquiring an additional 11,711 shares during the period. Federated Hermes Inc. grew its holdings in Phillips 66 by 62.0% in the 2nd quarter. Federated Hermes Inc. now owns 85,219 shares of the oil and gas company’s stock worth $12,030,000 after buying an additional 32,623 shares in the last quarter. Thoroughbred Financial Services LLC increased its position in Phillips 66 by 21.7% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 10,383 shares of the oil and gas company’s stock valued at $1,465,000 after acquiring an additional 1,848 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Phillips 66 by 20.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 94,182 shares of the oil and gas company’s stock worth $13,296,000 after acquiring an additional 16,020 shares during the period. Finally, Wilkins Investment Counsel Inc. grew its stake in shares of Phillips 66 by 0.6% in the second quarter. Wilkins Investment Counsel Inc. now owns 17,178 shares of the oil and gas company’s stock worth $2,425,000 after purchasing an additional 105 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.6 %

Phillips 66 stock traded up $1.78 during mid-day trading on Monday, hitting $115.71. 2,090,086 shares of the company’s stock were exchanged, compared to its average volume of 2,711,954. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The stock has a 50 day moving average of $123.10 and a two-hundred day moving average of $130.36. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market cap of $47.79 billion, a P/E ratio of 14.85, a P/E/G ratio of 4.06 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, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 EPS. As a group, analysts anticipate that Phillips 66 will post 7.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Morgan Stanley lowered their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Mizuho lowered their price objective 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. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.