Cerro Pacific Wealth Advisors LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Cerro Pacific Wealth Advisors LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 8,539 shares of the oil and gas company’s stock after purchasing an additional 225 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Phillips 66 were worth $973,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Veracity Capital LLC raised its stake in Phillips 66 by 8.5% during the fourth quarter. Veracity Capital LLC now owns 6,235 shares of the oil and gas company’s stock valued at $710,000 after buying an additional 490 shares during the last quarter. Red Door Wealth Management LLC raised its position in shares of Phillips 66 by 16.1% in the 4th quarter. Red Door Wealth Management LLC now owns 2,279 shares of the oil and gas company’s stock worth $260,000 after purchasing an additional 316 shares during the last quarter. Donoghue Forlines LLC bought a new position in Phillips 66 in the 4th quarter worth about $1,438,000. Endeavor Private Wealth Inc. purchased a new stake in Phillips 66 during the 4th quarter valued at about $112,000. Finally, Raleigh Capital Management Inc. increased its stake in Phillips 66 by 222.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 523 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 361 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PSX. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Mizuho decreased their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Up 3.4 %

Shares of PSX stock opened at $122.62 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $50.64 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm has a fifty day moving average price of $121.95 and a 200-day moving average price of $129.24.

Phillips 66 (NYSE:PSX) last issued its quarterly 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 business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.41 earnings per share for the current year.

About Phillips 66

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.