Stonegate Investment Group LLC Has $58.24 Million Position in Phillips 66 (NYSE:PSX)

Stonegate Investment Group LLC decreased its position in Phillips 66 (NYSE:PSX) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 511,153 shares of the oil and gas company’s stock after selling 2,136 shares during the period. Phillips 66 accounts for 1.6% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 24th biggest holding. Stonegate Investment Group LLC owned 0.12% of Phillips 66 worth $58,236,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after acquiring an additional 16,941 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% during the 3rd 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 purchasing an additional 2,467,316 shares in the last quarter. Bank of Montreal Can raised its stake in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after buying an additional 633,970 shares during the last quarter. ING Groep NV grew its position in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the period. Finally, National Pension Service raised its stake in Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock worth $131,678,000 after acquiring an additional 63,349 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Up 1.0 %

NYSE:PSX opened at $123.03 on Tuesday. The firm has a market capitalization of $50.81 billion, a P/E ratio of 15.79, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company’s fifty day moving average price is $121.63 and its 200-day moving average price is $129.04. 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 issued its quarterly 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 company 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%. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.41 EPS for the current year.

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.