RNC Capital Management LLC Has $18.98 Million Stake in Phillips 66 (NYSE:PSX)


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RNC Capital Management LLC lowered its position in Phillips 66 (NYSE:PSX) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 271,338 shares of the oil and gas company’s stock after selling 121,522 shares during the period. RNC Capital Management LLC’s holdings in Phillips 66 were worth $18,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSX. PNC Financial Services Group Inc. increased its holdings in Phillips 66 by 0.6% in the second quarter. PNC Financial Services Group Inc. now owns 915,898 shares of the oil and gas company’s stock worth $65,853,000 after buying an additional 5,010 shares during the last quarter. Man Group plc increased its holdings in Phillips 66 by 41.8% in the second quarter. Man Group plc now owns 55,167 shares of the oil and gas company’s stock worth $3,966,000 after buying an additional 16,261 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Phillips 66 by 3,316.7% in the second quarter. Canada Pension Plan Investment Board now owns 96,010 shares of the oil and gas company’s stock worth $6,903,000 after buying an additional 93,200 shares during the last quarter. Captrust Financial Advisors increased its holdings in Phillips 66 by 4.3% in the second quarter. Captrust Financial Advisors now owns 16,062 shares of the oil and gas company’s stock worth $1,110,000 after buying an additional 659 shares during the last quarter. Finally, Private Advisor Group LLC increased its holdings in Phillips 66 by 15.6% in the second quarter. Private Advisor Group LLC now owns 28,133 shares of the oil and gas company’s stock worth $2,023,000 after buying an additional 3,800 shares during the last quarter. Hedge funds and other institutional investors own 65.91% of the company’s stock.

A number of research firms recently commented on PSX. Raymond James increased their price objective on Phillips 66 from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, November 20th. Cowen increased their price target on Phillips 66 from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 15th. Barclays lowered their price target on Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Morgan Stanley increased their price target on Phillips 66 from $63.00 to $82.00 and gave the company an “overweight” rating in a report on Friday, December 11th. Finally, Piper Sandler lowered their price target on Phillips 66 from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, November 13th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $71.76.

Shares of PSX traded down $1.97 during mid-day trading on Wednesday, hitting $71.77. The company’s stock had a trading volume of 2,489,355 shares, compared to its average volume of 3,385,487. Phillips 66 has a one year low of $40.04 and a one year high of $106.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.25. The firm has a market capitalization of $31.35 billion, a PE ratio of -25.91, a price-to-earnings-growth ratio of 34.44 and a beta of 1.53. The stock’s 50-day moving average is $68.45 and its two-hundred day moving average is $60.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.80) by $0.79. The company had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $17.15 billion. Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. During the same period in the prior year, the business earned $3.11 earnings per share. Analysts expect that Phillips 66 will post -0.18 EPS for the current fiscal year.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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