Phillips 66 (NYSE:PSX) Shares Bought by Hilltop National Bank

Hilltop National Bank grew its stake in Phillips 66 (NYSE:PSX) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,006 shares of the oil and gas company’s stock after buying an additional 1,968 shares during the period. Hilltop National Bank’s holdings in Phillips 66 were worth $1,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PSX. Mizuho Securities USA LLC increased 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 worth $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV grew its position in shares of Phillips 66 by 123.2% during 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 acquiring an additional 653,032 shares during the last quarter. Bank of Montreal Can increased its holdings 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 period. Mizuho Markets Americas LLC purchased a new stake in Phillips 66 in the 3rd quarter valued at $70,983,000. Finally, Canada Pension Plan Investment Board boosted its stake in Phillips 66 by 574.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock worth $62,545,000 after purchasing an additional 377,314 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX traded down $2.62 during midday trading on Friday, hitting $113.63. The company had a trading volume of 1,250,341 shares, compared to its average volume of 2,269,656. The firm has a market capitalization of $46.93 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The business has a 50-day simple moving average of $123.22 and a two-hundred day simple moving average of $130.67. 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 posted its quarterly 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. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $4.63 EPS. Equities research analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on PSX shares. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. UBS Group reduced 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. Barclays lowered their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $148.57.

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.