Wealth Enhancement Advisory Services LLC Invests $1.73 Million in Phillips 66 (PSX)
Wealth Enhancement Advisory Services LLC acquired a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 16,503 shares of the oil and gas company’s stock, valued at approximately $1,732,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rowland & Co. Investment Counsel ADV bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $102,000. Motco increased its stake in shares of Phillips 66 by 4.0% during the second quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 50 shares during the period. Bruderman Asset Management LLC bought a new position in shares of Phillips 66 during the second quarter worth approximately $112,000. Ffcm LLC bought a new position in shares of Phillips 66 during the second quarter worth approximately $113,000. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of Phillips 66 during the second quarter worth approximately $127,000. 70.12% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on PSX shares. UBS Group increased their target price on Phillips 66 from $85.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 15th. Vetr lowered Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 target price on the stock. in a research note on Thursday, November 2nd. Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research note on Monday, December 18th. Jefferies Group lowered Phillips 66 from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $95.00 to $75.14 in a research note on Monday, October 16th. Finally, Wells Fargo & Co reiterated a “market perform” rating and set a $91.00 target price (up previously from $84.00) on shares of Phillips 66 in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $96.66.
Phillips 66 (NYSE:PSX) opened at $105.63 on Friday. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $106.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31. The company has a market capitalization of $53,856.97, a price-to-earnings ratio of 30.34, a price-to-earnings-growth ratio of 1.59 and a beta of 1.24.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The firm had revenue of $26.21 billion for the quarter, compared to analyst estimates of $29.94 billion. During the same quarter last year, the company earned $1.05 EPS. equities analysts forecast that Phillips 66 will post 4.36 earnings per share for the current year.
Phillips 66 announced that its Board of Directors has authorized a share buyback plan on Monday, October 9th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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