Empirical Asset Management LLC Raises Holdings in Phillips 66 (NYSE:PSX)

Empirical Asset Management LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 47.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,148 shares of the oil and gas company’s stock after purchasing an additional 11,346 shares during the period. Empirical Asset Management LLC’s holdings in Phillips 66 were worth $4,004,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Van ECK Associates Corp raised its holdings in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in Phillips 66 during the 4th quarter worth about $3,033,000. Mizuho Securities USA LLC raised its stake in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Nwam LLC purchased a new position in Phillips 66 in the 3rd quarter valued at about $498,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after purchasing an additional 14,209 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Mizuho dropped their target price 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Up 0.6 %

Shares of NYSE:PSX opened at $119.68 on Friday. The stock has a 50-day simple moving average of $122.73 and a 200-day simple moving average of $129.95. The stock has a market capitalization of $49.43 billion, a P/E ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38. Phillips 66 has a 1 year low of $108.90 and a 1 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.

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