Raleigh Capital Management Inc. Purchases 361 Shares of Phillips 66 (NYSE:PSX)

Raleigh Capital Management Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 222.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 523 shares of the oil and gas company’s stock after acquiring an additional 361 shares during the period. Raleigh Capital Management Inc.’s holdings in Phillips 66 were worth $60,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during 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 buying an additional 2,467,316 shares during the period. ING Groep NV increased its holdings in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the period. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% in 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 acquiring an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $70,983,000. Finally, Assenagon Asset Management S.A. grew its position in Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after acquiring an additional 309,507 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 3.4 %

Shares of NYSE:PSX opened at $122.62 on Friday. The firm has a market capitalization of $50.64 billion, a P/E ratio of 15.74, a P/E/G ratio of 3.84 and a beta of 1.38. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a 50 day moving average price of $121.95 and a 200-day moving average price of $129.24. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $4.63 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. JPMorgan Chase & Co. lowered their price target 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. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. 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. Finally, Scotiabank dropped their target price 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

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.