Montecito Bank & Trust Buys 765 Shares of Phillips 66 (NYSE:PSX)

Montecito Bank & Trust boosted its stake in shares of Phillips 66 (NYSE:PSX) by 17.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,204 shares of the oil and gas company’s stock after purchasing an additional 765 shares during the period. Montecito Bank & Trust’s holdings in Phillips 66 were worth $593,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth $26,000. Values First Advisors Inc. bought a new position in Phillips 66 in the third quarter worth approximately $30,000. Point72 Hong Kong Ltd bought a new position in Phillips 66 in the 3rd quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new position in Phillips 66 during the second quarter valued at $51,000. Finally, Hoese & Co LLP grew its holdings in Phillips 66 by 33.1% during the third 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 period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $121.82 on Friday. The firm has a market capitalization of $50.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.78 and a beta of 1.38. 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 business has a 50 day simple moving average of $121.81 and a 200-day simple moving average of $129.20. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the firm earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 6.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wolfe Research upgraded shares of 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. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Finally, JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.93.

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.