Allspring Global Investments Holdings LLC lifted its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 26.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,687 shares of the oil and gas company’s stock after purchasing an additional 24,295 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Phillips 66 were worth $9,418,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. State Street Corp increased its stake in shares of Phillips 66 by 2.7% during the second quarter. State Street Corp now owns 32,668,525 shares of the oil and gas company’s stock valued at $2,678,492,000 after purchasing an additional 854,076 shares in the last quarter. FMR LLC increased its position in Phillips 66 by 18.9% during the 2nd quarter. FMR LLC now owns 10,264,690 shares of the oil and gas company’s stock valued at $841,602,000 after buying an additional 1,634,573 shares in the last quarter. Wellington Management Group LLP raised its stake in Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after buying an additional 2,753,700 shares during the last quarter. Bank of America Corp DE raised its stake in Phillips 66 by 1.2% during the first quarter. Bank of America Corp DE now owns 6,592,821 shares of the oil and gas company’s stock valued at $569,553,000 after buying an additional 80,265 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Phillips 66 by 1.4% in the second quarter. Northern Trust Corp now owns 5,082,724 shares of the oil and gas company’s stock worth $416,733,000 after acquiring an additional 68,219 shares in the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on PSX. Wells Fargo & Company lowered their price target on Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a research report on Thursday, January 5th. BMO Capital Markets increased their price target on shares of Phillips 66 from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, November 10th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Tuesday, January 10th. Morgan Stanley increased their target price on Phillips 66 from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, November 7th. Finally, Jefferies Financial Group started coverage on Phillips 66 in a research note on Wednesday, October 19th. They issued a “hold” rating and a $105.00 price target for the company. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $118.27.
Insider Activity at Phillips 66
Phillips 66 Price Performance
Shares of NYSE:PSX opened at $103.03 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $48.70 billion, a PE ratio of 4.71, a price-to-earnings-growth ratio of 0.41 and a beta of 1.41. The firm’s 50 day moving average price is $104.91 and its 200-day moving average price is $94.25. Phillips 66 has a twelve month low of $73.85 and a twelve month high of $113.53.
Phillips 66 (NYSE:PSX – Get Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share for the quarter, topping the consensus estimate of $4.98 by $1.48. Phillips 66 had a net margin of 6.18% and a return on equity of 32.66%. The business had revenue of $48.76 billion for the quarter, compared to the consensus estimate of $40.68 billion. During the same period last year, the firm earned $3.18 earnings per share. Equities research analysts expect that Phillips 66 will post 19.42 EPS for the current year.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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.
- Get a free copy of the StockNews.com research report on Phillips 66 (PSX)
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