Stablepoint Partners LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

Stablepoint Partners LLC grew its stake in Phillips 66 (NYSE:PSX) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,739 shares of the oil and gas company’s stock after purchasing an additional 720 shares during the quarter. Stablepoint Partners LLC’s holdings in Phillips 66 were worth $4,983,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. AQR Capital Management LLC lifted its position in shares of Phillips 66 by 6.4% in the second quarter. AQR Capital Management LLC now owns 372,992 shares of the oil and gas company’s stock valued at $52,099,000 after acquiring an additional 22,531 shares in the last quarter. MBB Public Markets I LLC purchased a new position in Phillips 66 in the 2nd quarter valued at $4,475,000. Legal & General Group Plc boosted its stake in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Brick & Kyle Associates grew its holdings in shares of Phillips 66 by 3.0% during the second quarter. Brick & Kyle Associates now owns 54,160 shares of the oil and gas company’s stock worth $7,646,000 after buying an additional 1,598 shares in the last quarter. Finally, Buck Wealth Strategies LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at about $6,827,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSX shares. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Performance

NYSE:PSX opened at $121.82 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week 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. The company has a 50 day moving average price of $121.63 and a 200 day moving average price of $129.10. The stock has a market capitalization of $50.31 billion, a P/E ratio of 15.64, a PEG ratio of 3.78 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 6.41 EPS for the current year.

About Phillips 66

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.