Phillips 66 (NYSE:PSX) Shares Purchased by Eldred Rock Partners LLC

Eldred Rock Partners LLC raised its position in Phillips 66 (NYSE:PSX) by 0.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 86,011 shares of the oil and gas company’s stock after buying an additional 293 shares during the quarter. Phillips 66 comprises about 3.3% of Eldred Rock Partners LLC’s holdings, making the stock its 17th largest position. Eldred Rock Partners LLC’s holdings in Phillips 66 were worth $9,731,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PSX. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in shares of Phillips 66 during the 3rd quarter worth $40,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $51,000. Finally, Hoese & Co LLP lifted its stake in shares of Phillips 66 by 33.1% in the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PSX shares. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

PSX stock opened at $120.64 on Monday. The stock has a market capitalization of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock’s fifty day simple moving average is $122.47 and its 200-day simple moving average is $129.66.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.22 EPS for the current year.

Phillips 66 Company 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.