Phillips 66 (NYSE:PSX) Shares Acquired by Virginia Wealth Management Group Inc.

Virginia Wealth Management Group Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,313 shares of the oil and gas company’s stock after acquiring an additional 246 shares during the period. Phillips 66 makes up about 2.1% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 26th largest position. Virginia Wealth Management Group Inc.’s holdings in Phillips 66 were worth $3,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter worth approximately $26,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the third quarter worth $30,000. Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Phillips 66 in the 4th quarter valued at $32,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PSX shares. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Scotiabank lowered their price objective 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. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

NYSE PSX opened at $123.58 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $51.04 billion, a PE ratio of 25.02, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a 50 day moving average price of $120.23 and a two-hundred day moving average price of $128.25.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business posted $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.57 earnings per share 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.