Confluence Wealth Services Inc. Acquires 114 Shares of Phillips 66 (NYSE:PSX)

Confluence Wealth Services Inc. boosted its holdings in Phillips 66 (NYSE:PSX) by 1.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,741 shares of the oil and gas company’s stock after buying an additional 114 shares during the period. Confluence Wealth Services Inc.’s holdings in Phillips 66 were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Krane Funds Advisors LLC raised its stake in shares of Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during the period. Richwood Investment Advisors LLC grew its holdings in Phillips 66 by 1.9% during the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after buying an additional 85 shares in the last quarter. Webster Bank N. A. increased its position in shares of 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 valued at $31,000 after buying an additional 88 shares during the period. Cobblestone Capital Advisors LLC NY lifted its holdings in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after buying an additional 89 shares in the last quarter. Finally, Western Financial Corp CA boosted its position in shares of Phillips 66 by 1.6% in the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSX shares. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Barclays decreased their price target 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. Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group reduced their target price on 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, StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Down 0.2 %

Shares of NYSE PSX opened at $123.31 on Thursday. The stock has a market capitalization of $50.93 billion, a P/E ratio of 24.96, a PEG ratio of 3.89 and a beta of 1.37. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The firm’s 50 day simple moving average is $120.01 and its two-hundred day simple moving average is $128.15. 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 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business posted $3.09 EPS. As a group, analysts expect that Phillips 66 will post 7.57 EPS 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.