Raymond James Trust N.A. Boosts Stock Holdings in Phillips 66 (NYSE:PSX)


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Raymond James Trust N.A. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 88,711 shares of the oil and gas company’s stock after purchasing an additional 1,802 shares during the period. Raymond James Trust N.A.’s holdings in Phillips 66 were worth $6,204,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baystate Wealth Management LLC increased its position in Phillips 66 by 71.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 496 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 207 shares during the period. Planned Solutions Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $26,000. Sageworth Trust Co purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $28,000. Horan Capital Advisors LLC. purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $30,000. Finally, Pacifica Partners Inc. grew its position in shares of Phillips 66 by 28.0% in the 4th quarter. Pacifica Partners Inc. now owns 686 shares of the oil and gas company’s stock worth $48,000 after buying an additional 150 shares during the last quarter. 65.91% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Phillips 66 from $63.00 to $82.00 and gave the stock an “overweight” rating in a research report on Friday, December 11th. ValuEngine raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, November 26th. Cowen boosted their target price on shares of Phillips 66 from $67.00 to $70.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 15th. Piper Sandler dropped their target price on shares of Phillips 66 from $84.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, November 13th. Finally, Raymond James lifted their price objective on shares of Phillips 66 from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, November 20th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $71.76.

NYSE PSX traded down $1.97 on Wednesday, hitting $71.77. The company had a trading volume of 2,489,355 shares, compared to its average volume of 3,385,487. The company has a market capitalization of $31.35 billion, a PE ratio of -25.91, a PEG ratio of 34.44 and a beta of 1.53. The company’s fifty day moving average price is $68.45 and its 200-day moving average price is $60.85. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 0.73. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $106.66.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.79. The company had revenue of $16.30 billion during the quarter, compared to analyst estimates of $17.15 billion. Phillips 66 had a negative net margin of 1.32% and a positive return on equity of 8.76%. During the same quarter in the previous year, the firm earned $3.11 EPS. On average, sell-side analysts anticipate that Phillips 66 will post -0.18 EPS for the current 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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