Uncommon Cents Investing LLC Trims Holdings in Phillips 66 (NYSE:PSX)

Uncommon Cents Investing LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,592 shares of the oil and gas company’s stock after selling 105 shares during the quarter. Uncommon Cents Investing LLC’s holdings in Phillips 66 were worth $409,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV lifted its position in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can boosted its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC purchased a new position in shares of Phillips 66 during the third quarter valued at about $70,983,000. Finally, Canada Pension Plan Investment Board raised its stake in Phillips 66 by 574.0% in the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock worth $62,545,000 after buying an additional 377,314 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 0.8 %

NYSE PSX opened at $120.64 on Monday. The company’s 50-day moving average price is $122.47 and its 200-day moving average price is $129.66. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock has a market cap of $49.82 billion, a PE ratio of 15.49, a PEG ratio of 3.17 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 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The company’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 7.22 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on PSX. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wolfe Research upgraded 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. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Scotiabank decreased their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

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.