Thurston Springer Miller Herd & Titak Inc. Raises Position in Phillips 66 (NYSE:PSX)

Thurston Springer Miller Herd & Titak Inc. boosted its position in Phillips 66 (NYSE:PSX) by 36.2% during the fourth quarter, Holdings Channel reports. The fund owned 24,231 shares of the oil and gas company’s stock after acquiring an additional 6,442 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Phillips 66 were worth $2,761,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Everence Capital Management Inc. bought a new position in Phillips 66 in the fourth quarter valued at $3,033,000. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Nwam LLC bought a new position in Phillips 66 in the third quarter valued at $498,000. Finally, Principal Financial Group Inc. increased its stake in Phillips 66 by 2.8% in the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, UBS Group cut 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Performance

Shares of PSX opened at $117.03 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a 50-day simple moving average of $122.91 and a two-hundred day simple moving average of $130.03. The firm has a market capitalization of $48.33 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) 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 firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period last year, the business earned $4.63 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. On average, analysts anticipate that Phillips 66 will post 7.56 EPS for the current fiscal 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.