Phillips 66 (NYSE:PSX) Short Interest Down 14.0% in December

Phillips 66 (NYSE:PSX) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 6,370,000 shares, a decline of 14.0% from the December 15th total of 7,410,000 shares. Based on an average daily trading volume, of 2,610,000 shares, the short-interest ratio is presently 2.4 days. Approximately 1.6% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group reduced 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. Wells Fargo & Company reduced their target price 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. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their target price 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, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Up 0.6 %

NYSE PSX opened at $119.68 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a market capitalization of $49.43 billion, a PE ratio of 15.36, a P/E/G ratio of 3.17 and a beta of 1.38. The stock’s 50 day moving average is $122.73 and its 200 day moving average is $129.95.

Phillips 66 (NYSE:PSX) last released its earnings results 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 return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the company posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts forecast that Phillips 66 will post 7.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Phillips 66

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 in the third quarter worth $30,000. Point72 Hong Kong Ltd bought a new stake in Phillips 66 in the third quarter worth $40,000. Strategic Investment Solutions Inc. IL bought a new stake in Phillips 66 in the second quarter worth $51,000. Finally, Hoese & Co LLP raised its stake in shares of Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Company 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.