Manning & Napier Advisors LLC Sells 4,103 Shares of Phillips 66 (NYSE:PSX)

Manning & Napier Advisors LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 115,135 shares of the oil and gas company’s stock after selling 4,103 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Phillips 66 were worth $13,117,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSX. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter valued at $30,000. Webster Bank N. A. boosted its position in 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 worth $31,000 after purchasing an additional 88 shares during the period. Point72 Hong Kong Ltd bought a new position in Phillips 66 during the third quarter worth $40,000. Finally, Sugar Maple Asset Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PSX. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report 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 research report on Monday, December 9th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, 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 research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

NYSE PSX opened at $122.20 on Thursday. The firm’s 50 day simple moving average is $121.27 and its 200 day simple moving average is $128.82. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 3.78 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the business posted $4.63 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts expect that Phillips 66 will post 6.41 earnings per share for the current fiscal 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.