Soltis Investment Advisors LLC Raises Position in Phillips 66 (NYSE:PSX)

Soltis Investment Advisors LLC lifted its stake in Phillips 66 (NYSE:PSX) by 9.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,456 shares of the oil and gas company’s stock after buying an additional 299 shares during the period. Soltis Investment Advisors LLC’s holdings in Phillips 66 were worth $394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth about $26,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares during the period. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 in the third quarter worth about $30,000. Webster Bank N. A. boosted its position 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 buying an additional 88 shares during the period. Finally, YANKCOM Partnership purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.9 %

Shares of NYSE PSX opened at $123.74 on Tuesday. 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’s 50 day moving average price is $119.29 and its two-hundred day moving average price is $127.79. The stock has a market capitalization of $51.10 billion, a P/E ratio of 25.05, a PEG ratio of 5.64 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the firm earned $3.09 EPS. On average, analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Barclays reduced their price target 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. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.