Phillips 66 (NYSE:PSX) Shares Acquired by BluePath Capital Management LLC

BluePath Capital Management LLC boosted its stake in Phillips 66 (NYSE:PSX) by 25.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,030 shares of the oil and gas company’s stock after purchasing an additional 1,227 shares during the period. BluePath Capital Management LLC’s holdings in Phillips 66 were worth $699,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PSX. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the 3rd 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 $119.04 on Thursday. The stock has a market capitalization of $49.16 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 3.17 and a beta of 1.38. The business’s fifty day moving average price is $122.91 and its 200 day moving average price is $130.03. 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. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the firm posted $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. Mizuho lowered their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Wells Fargo & Company reduced their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Finally, JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently 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.