Phillips 66 (NYSE:PSX) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH trimmed its position in Phillips 66 (NYSE:PSX) by 91.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,334 shares of the oil and gas company’s stock after selling 14,350 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Phillips 66 were worth $149,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its stake in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $3,033,000. Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Annex Advisory Services LLC grew its stake in Phillips 66 by 25.7% in the fourth quarter. Annex Advisory Services LLC now owns 162,922 shares of the oil and gas company’s stock worth $18,562,000 after purchasing an additional 33,290 shares in the last quarter. Finally, Nwam LLC acquired a new position in Phillips 66 in the third quarter worth about $498,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Finally, Barclays cut 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. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Trading Down 0.6 %

Shares of NYSE:PSX opened at $121.82 on Friday. The firm has a fifty day moving average of $121.81 and a two-hundred day moving average of $129.20. The firm has a market capitalization of $50.31 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 3.78 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 company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

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