Tallon Kerry Patrick purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 2,939 shares of the oil and gas company's stock, valued at approximately $336,000.
Other large investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its position in Phillips 66 by 263.3% during 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 purchasing an additional 60,355 shares during the period. Everence Capital Management Inc. bought a new position in Phillips 66 in the 4th quarter worth approximately $3,033,000. Mizuho Securities USA LLC grew 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 buying an additional 2,467,316 shares in the last quarter. Nwam LLC bought a new stake in Phillips 66 during the 3rd quarter valued at $498,000. Finally, Principal Financial Group Inc. lifted its position in shares of Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock worth $69,775,000 after acquiring an additional 14,209 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.
Phillips 66 Price Performance
PSX traded up $1.01 during midday trading on Friday, hitting $120.64. The stock had a trading volume of 2,722,245 shares, compared to its average volume of 2,889,731. The company has a market cap of $49.82 billion, a P/E ratio of 15.49, a price-to-earnings-growth 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 business has a fifty day moving average of $122.59 and a 200 day moving average of $129.88. 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 - Get Free Report) last released its 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. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 EPS. As a group, equities analysts forecast that Phillips 66 will post 7.22 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several brokerages have recently weighed in on PSX. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. Wells Fargo & Company decreased their price target on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Monday, December 9th. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research report on Monday. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $147.93.
Read Our Latest Research Report on Phillips 66
Phillips 66 Company Profile
(
Free Report)
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.
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