Phillips 66 (NYSE:PSX) Position Decreased by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 22.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,636 shares of the oil and gas company’s stock after selling 3,135 shares during the period. Gateway Investment Advisers LLC’s holdings in Phillips 66 were worth $1,212,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Phillips 66 by 4.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 12,783 shares of the oil and gas company’s stock worth $1,456,000 after acquiring an additional 530 shares in the last quarter. Flywheel Private Wealth LLC acquired a new stake in Phillips 66 during the fourth quarter valued at approximately $259,000. Stolper Co grew its stake in shares of Phillips 66 by 1.5% in the 4th quarter. Stolper Co now owns 46,284 shares of the oil and gas company’s stock valued at $5,273,000 after purchasing an additional 695 shares during the period. BluePath Capital Management LLC raised its holdings in shares of Phillips 66 by 25.5% in the 4th quarter. BluePath Capital Management LLC now owns 6,030 shares of the oil and gas company’s stock worth $699,000 after buying an additional 1,227 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Phillips 66 by 3.9% during the fourth quarter. Pinnacle Bancorp Inc. now owns 2,535 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 95 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company decreased 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. Bank of America started 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. Barclays decreased their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Scotiabank reduced their target price 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Performance

Shares of PSX stock opened at $120.64 on Friday. The company has a fifty day moving average price of $122.47 and a two-hundred day moving average price of $129.74. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock has a market cap of $49.82 billion, a P/E ratio of 15.49, a P/E/G ratio of 3.17 and a beta of 1.38. 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 released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.63 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.22 EPS for the current 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.