Fulton Bank N.A. Acquires 404 Shares of Phillips 66 (NYSE:PSX)

Fulton Bank N.A. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 9.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,792 shares of the oil and gas company’s stock after purchasing an additional 404 shares during the period. Fulton Bank N.A.’s holdings in Phillips 66 were worth $546,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Advisory Alpha LLC increased its position in Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares in the last quarter. Krane Funds Advisors LLC grew its stake in shares of Phillips 66 by 3.6% in the third 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 increased its holdings in shares of Phillips 66 by 1.9% during the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after acquiring an additional 85 shares in the last quarter. Cobblestone Capital Advisors LLC NY raised its position in shares of Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the last quarter. Finally, Western Financial Corp CA boosted its stake in Phillips 66 by 1.6% in the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after purchasing an additional 91 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $116.26 on Friday. The stock’s fifty day moving average is $123.22 and its 200 day moving average is $130.67. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. 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 $48.01 billion, a P/E ratio of 14.92, a P/E/G ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Barclays decreased their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wolfe Research raised 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. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Four investment 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 currently has a consensus rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 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.