Exeter Financial LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Exeter Financial LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,730 shares of the oil and gas company’s stock after purchasing an additional 1,675 shares during the quarter. Exeter Financial LLC’s holdings in Phillips 66 were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. nVerses Capital LLC acquired a new stake in shares of Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 in the third quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Phillips 66 during the second quarter worth $51,000. Finally, Hoese & Co LLP boosted 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 buying an additional 100 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.8 %

Shares of NYSE PSX opened at $116.02 on Tuesday. The business has a 50-day moving average of $123.00 and a two-hundred day moving average of $130.20. The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. 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.

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 (EPS) 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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the prior year, the company posted $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts forecast that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSX shares. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company cut their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Finally, JPMorgan Chase & Co. decreased 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 report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.93.

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.