Phillips 66 (NYSE:PSX) Shares Purchased by Empirical Asset Management LLC

Empirical Asset Management LLC raised its position in Phillips 66 (NYSE:PSX) by 47.7% in the 4th quarter, Holdings Channel reports. 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 hedge funds also recently made changes to their positions in the company. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the third quarter valued at about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 during the second quarter worth 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 worth $53,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent analyst reports. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Barclays decreased 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. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $119.68 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $122.73 and its two-hundred day moving average price is $129.95. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market capitalization of $49.43 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the firm earned $4.63 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, sell-side analysts forecast that Phillips 66 will post 7.22 earnings per share 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.