Somerset Trust Co Purchases 612 Shares of Phillips 66 (NYSE:PSX)

Somerset Trust Co increased its position in Phillips 66 (NYSE:PSX) by 3.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 19,802 shares of the oil and gas company’s stock after acquiring an additional 612 shares during the quarter. Somerset Trust Co’s holdings in Phillips 66 were worth $2,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of Phillips 66 by 2.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 112,280 shares of the oil and gas company’s stock worth $15,851,000 after purchasing an additional 2,582 shares during the period. Argent Trust Co increased its holdings in Phillips 66 by 3.1% during the second quarter. Argent Trust Co now owns 8,715 shares of the oil and gas company’s stock valued at $1,230,000 after buying an additional 262 shares during the last quarter. XTX Topco Ltd bought a new position in Phillips 66 in the second quarter worth approximately $534,000. MQS Management LLC purchased a new position in shares of Phillips 66 during the 2nd quarter worth $334,000. Finally, Intech Investment Management LLC grew its position in shares of Phillips 66 by 40.9% during the 2nd quarter. Intech Investment Management LLC now owns 146,221 shares of the oil and gas company’s stock valued at $20,642,000 after acquiring an additional 42,457 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.8 %

Shares of NYSE PSX opened at $120.64 on Friday. 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 current ratio of 1.21 and a quick ratio of 0.83. The business’s 50 day moving average is $122.59 and its two-hundred day moving average is $129.88. The stock has a market capitalization of $49.82 billion, a P/E ratio of 15.49, a PEG ratio of 3.17 and a beta of 1.38.

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

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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 research note on Monday, December 16th. Finally, Barclays dropped their price target 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, January 13th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

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.