Grove Bank & Trust Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Grove Bank & Trust grew its holdings in Phillips 66 (NYSE:PSX) by 12.7% during the fourth quarter, HoldingsChannel reports. The firm owned 1,088 shares of the oil and gas company’s stock after acquiring an additional 123 shares during the period. Grove Bank & Trust’s holdings in Phillips 66 were worth $124,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. nVerses Capital LLC acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 in the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP increased its holdings in Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research reports. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. 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 note on Monday, January 13th. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Price Performance

Phillips 66 stock opened at $120.64 on Tuesday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The stock 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. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $122.47 and a 200-day simple moving average of $129.59.

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, beating 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 firm 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 company earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities analysts expect that Phillips 66 will post 7.22 EPS for the current fiscal year.

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.