Beacon Financial Group Sells 2,758 Shares of Phillips 66 (NYSE:PSX)

Beacon Financial Group decreased its position in Phillips 66 (NYSE:PSX) by 7.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 34,779 shares of the oil and gas company’s stock after selling 2,758 shares during the quarter. Beacon Financial Group’s holdings in Phillips 66 were worth $3,962,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Krane Funds Advisors LLC lifted its holdings in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares during the last quarter. Richwood Investment Advisors LLC lifted its stake in Phillips 66 by 1.9% in the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock worth $602,000 after purchasing an additional 85 shares during the last quarter. Webster Bank N. A. boosted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in shares of Phillips 66 by 0.5% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after buying an additional 89 shares during the last quarter. Finally, Western Financial Corp CA increased its holdings in shares of Phillips 66 by 1.6% in the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. 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. Bank of America assumed 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 cut their price target 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. Finally, Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Performance

Phillips 66 stock opened at $129.74 on Wednesday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock’s 50 day simple moving average is $119.04 and its two-hundred day simple moving average is $127.66. 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 market cap of $53.58 billion, a price-to-earnings ratio of 26.26, a PEG ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business earned $3.09 EPS. As a group, analysts expect that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

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.