Phillips 66 (NYSE:PSX) Shares Bought by Eldred Rock Partners LLC

Eldred Rock Partners LLC boosted its stake in Phillips 66 (NYSE:PSX) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,011 shares of the oil and gas company’s stock after purchasing an additional 293 shares during the period. Phillips 66 makes up about 3.3% of Eldred Rock Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Eldred Rock Partners LLC’s holdings in Phillips 66 were worth $9,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in Phillips 66 in the third quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $51,000. Finally, Hoese & Co LLP lifted its position in shares of Phillips 66 by 33.1% during the third quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX opened at $120.64 on Monday. The stock has a market capitalization of $49.82 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The business’s fifty day moving average price is $122.47 and its 200 day moving average price is $129.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 7.22 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company dropped their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 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.