First Citizens Bank & Trust Co. Acquires 522 Shares of Phillips 66 (NYSE:PSX)

First Citizens Bank & Trust Co. grew its holdings in Phillips 66 (NYSE:PSX) by 16.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,613 shares of the oil and gas company’s stock after acquiring an additional 522 shares during the period. First Citizens Bank & Trust Co.’s holdings in Phillips 66 were worth $412,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cyndeo Wealth Partners LLC lifted its position in Phillips 66 by 16.6% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 24,791 shares of the oil and gas company’s stock valued at $2,824,000 after purchasing an additional 3,533 shares in the last quarter. CX Institutional raised its stake in shares of Phillips 66 by 7.9% in the fourth quarter. CX Institutional now owns 3,173 shares of the oil and gas company’s stock worth $362,000 after buying an additional 233 shares during the period. Southland Equity Partners LLC lifted its position in shares of Phillips 66 by 17.7% during the 4th quarter. Southland Equity Partners LLC now owns 3,818 shares of the oil and gas company’s stock valued at $435,000 after buying an additional 573 shares in the last quarter. Sound Income Strategies LLC grew its stake in shares of Phillips 66 by 34.8% during the 4th quarter. Sound Income Strategies LLC now owns 620 shares of the oil and gas company’s stock valued at $71,000 after acquiring an additional 160 shares during the period. Finally, LexAurum Advisors LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $380,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays decreased their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $123.03 on Tuesday. The firm has a fifty day simple moving average of $121.63 and a two-hundred day simple moving average of $129.04. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $50.81 billion, a P/E ratio of 15.79, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.63 earnings per share. On average, analysts expect that Phillips 66 will post 6.41 earnings per share for the current fiscal year.

Phillips 66 Company 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.