Phillips 66 (XTRA:R66) is on the rise, with the average one-year price target now standing at an impressive 141.10 per share. This marks a substantial 6.03% increase from the prior estimate of 133.08, as of January 18, 2024.
Analysts have been fervently revising their targets, projecting a range from a modest low of 124.57 to an ambitious high of 162.12 per share. The average price target signifies a notable 13.97% surge from the latest closing price of 123.80 per share.
The Fund Sentiment Landscape
With 2718 funds or institutions now reporting positions in Phillips 66, there has been a remarkable increase of 144 owners or 5.59% in the past quarter. The overall average portfolio weight among these funds dedicated to R66 stands at 0.37%, showing a solid increase of 5.63%. Total shares owned by institutions have also seen a notable uptick in the last three months, climbing by 1.83% to 357,968K shares.
Actions of Other Shareholders
Wells Fargo, a key player in the investment landscape, holds 16,949K shares, representing 3.94% ownership of the company. In its previous filing, the firm disclosed ownership of 17,121K shares, indicating a slight decrease of 1.02%. They have scaled back their portfolio allocation in R66 by 2.33% over the last quarter.
Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) has 13,864K shares, accounting for 3.22% ownership. In its prior filing, the firm reported owning 14,364K shares, reflecting a decrease of 3.61%. However, the fund increased its portfolio allocation in R66 significantly by 26.20% over the last quarter.
The Energy Select Sector SPDR Fund (XLE) holds 12,363K shares, representing 2.88% ownership. In the previous filing, the firm held 12,113K shares, marking an increase of 2.02%. The fund has raised its portfolio allocation in R66 by 9.96% over the last quarter.
Wellington Management Group Llp boasts 10,903K shares, owning 2.54% of the company. The firm reported owning 9,061K shares in the previous filing, showcasing an impressive increase of 16.90%. However, the firm has decreased its portfolio allocation in R66 by 82.14% over the last quarter.
Vanguard 500 Index Fund Investor Shares (VFINX) holds 10,703K shares, representing 2.49% ownership. In its prior filing, the firm held 10,925K shares, a dip of 2.07%. Nevertheless, the firm has increased its portfolio allocation in R66 by 26.36% over the last quarter.
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