Phillips 66 (NYSE:PSX) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 67.8% during the fourth quarter, Holdings Channel reports. The fund owned 2,347 shares of the oil and gas company’s stock after selling 4,936 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Phillips 66 were worth $268,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSX. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the third quarter worth approximately $40,000. Sugar Maple Asset Management LLC bought a new stake in shares of Phillips 66 in the fourth quarter worth $47,000. Finally, Hoese & Co LLP raised its holdings in Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $117.24 on Friday. The firm’s 50 day moving average is $120.54 and its two-hundred day moving average is $128.56. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $48.42 billion, a P/E ratio of 15.05, a PEG ratio of 4.03 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 earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same quarter in the prior year, the firm earned $3.09 EPS. Analysts anticipate that Phillips 66 will post 6.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSX. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set 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 for the company in a research note on Monday, January 13th. Finally, Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $147.93.

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.