ZWJ Investment Counsel Inc. Buys 8,801 Shares of Phillips 66 (NYSE:PSX)

ZWJ Investment Counsel Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,768 shares of the oil and gas company’s stock after purchasing an additional 8,801 shares during the quarter. ZWJ Investment Counsel Inc. owned about 0.06% of Phillips 66 worth $29,254,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Advisory Alpha LLC boosted its holdings in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the period. Krane Funds Advisors LLC boosted its holdings in Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 82 shares during the period. Richwood Investment Advisors LLC grew its position in shares of Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 85 shares during the last quarter. Cobblestone Capital Advisors LLC NY increased its stake in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the period. Finally, Western Financial Corp CA lifted its position in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. 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. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Barclays cut their price objective 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $120.64 on Tuesday. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. The business’s fifty day moving average price is $122.47 and its two-hundred day moving average price is $129.59. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 EPS. As a group, analysts predict that Phillips 66 will post 6.51 EPS for the current fiscal 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.