Confluence Wealth Services Inc. Grows Position in Phillips 66 (NYSE:PSX)

Confluence Wealth Services Inc. lifted its position in Phillips 66 (NYSE:PSX) by 1.7% during the 4th quarter, Holdings Channel reports. The firm owned 6,741 shares of the oil and gas company’s stock after acquiring an additional 114 shares during the period. Confluence Wealth Services Inc.’s holdings in Phillips 66 were worth $827,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in Phillips 66 in the 3rd quarter worth $26,000. Stephens Consulting LLC raised its stake in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the third quarter worth about $30,000. Webster Bank N. A. grew its stake in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, Crews Bank & Trust purchased a new position in Phillips 66 during the 4th quarter valued at about $32,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Barclays dropped their price objective 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. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Bank of America initiated coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Performance

Shares of PSX opened at $123.31 on Thursday. 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 cap of $50.93 billion, a P/E ratio of 24.96, a P/E/G ratio of 3.89 and a beta of 1.37. The business’s 50 day moving average price is $120.01 and its 200-day moving average price is $128.15. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company earned $3.09 earnings per share. Equities research analysts anticipate 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.