Wallington Asset Management LLC Sells 270 Shares of Phillips 66 (NYSE:PSX)

Wallington Asset Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 0.2% in the fourth quarter, Holdings Channel reports. The firm owned 133,905 shares of the oil and gas company’s stock after selling 270 shares during the quarter. Phillips 66 accounts for 2.2% of Wallington Asset Management LLC’s holdings, making the stock its 16th biggest holding. Wallington Asset Management LLC’s holdings in Phillips 66 were worth $15,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Mercer Global Advisors Inc. ADV boosted its holdings in Phillips 66 by 2.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 112,280 shares of the oil and gas company’s stock worth $15,851,000 after purchasing an additional 2,582 shares during the last quarter. Argent Trust Co grew its holdings in shares of Phillips 66 by 3.1% in the second quarter. Argent Trust Co now owns 8,715 shares of the oil and gas company’s stock worth $1,230,000 after acquiring an additional 262 shares during the period. XTX Topco Ltd purchased a new stake in Phillips 66 during the second quarter valued at $534,000. MQS Management LLC bought a new position in Phillips 66 in the second quarter valued at about $334,000. Finally, Intech Investment Management LLC boosted its position in Phillips 66 by 40.9% in the second quarter. Intech Investment Management LLC now owns 146,221 shares of the oil and gas company’s stock worth $20,642,000 after purchasing an additional 42,457 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.8 %

PSX stock opened at $120.64 on Friday. The company has a market capitalization of $49.82 billion, a P/E ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The firm’s fifty day simple moving average is $122.59 and its 200-day simple moving average is $129.88. 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 posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.63 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Barclays lowered their target price 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, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus 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.