Phillips 66 (NYSE:PSX) Short Interest Update

Phillips 66 (NYSE:PSX) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totalling 6,660,000 shares, an increase of 7.1% from the December 15th total of 6,220,000 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average trading volume of 2,410,000 shares, the days-to-cover ratio is presently 2.8 days.

NYSE PSX traded down $1.18 on Friday, hitting $102.61. 533,163 shares of the stock traded hands, compared to its average volume of 2,614,073. The stock has a 50-day moving average of $110.96 and a 200 day moving average of $106.25. Phillips 66 has a twelve month low of $80.24 and a twelve month high of $119.92. The company has a market capitalization of $46.12 billion, a P/E ratio of 8.76, a price-to-earnings-growth ratio of 1.57 and a beta of 1.09. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.60 by $0.51. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. During the same quarter in the prior year, the firm posted $3.10 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 8.61 earnings per share for the current year.

In related news, VP Chukwuemeka A. Oyolu sold 464 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $119.53, for a total value of $55,461.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Hartford Investment Management Co. raised its stake in Phillips 66 by 7.5% during the third quarter. Hartford Investment Management Co. now owns 71,887 shares of the oil and gas company’s stock valued at $7,361,000 after buying an additional 5,010 shares in the last quarter. CastleArk Alternatives LLC raised its position in shares of Phillips 66 by 183.3% during the 3rd quarter. CastleArk Alternatives LLC now owns 37,400 shares of the oil and gas company’s stock worth $3,830,000 after purchasing an additional 24,200 shares during the period. World Asset Management Inc raised its position in shares of Phillips 66 by 8.7% during the 3rd quarter. World Asset Management Inc now owns 42,252 shares of the oil and gas company’s stock worth $4,327,000 after purchasing an additional 3,395 shares during the period. BBVA USA Bancshares Inc. acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $4,248,000. Finally, Putnam Investments LLC raised its position in shares of Phillips 66 by 1.3% during the 2nd quarter. Putnam Investments LLC now owns 383,880 shares of the oil and gas company’s stock worth $35,909,000 after purchasing an additional 5,044 shares during the period. Hedge funds and other institutional investors own 68.34% of the company’s stock.

PSX has been the topic of several recent analyst reports. ValuEngine upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 8th. Barclays initiated coverage on Phillips 66 in a research note on Tuesday. They issued an “overweight” rating and a $122.00 price target on the stock. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Co boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Finally, Citigroup cut their price target on Phillips 66 from $135.00 to $128.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $122.17.

About Phillips 66

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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