Phillips 66 (NYSE:PSX) Stock Position Raised by Brooklyn Investment Group

Brooklyn Investment Group increased its stake in Phillips 66 (NYSE:PSX) by 40.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,146 shares of the oil and gas company’s stock after acquiring an additional 621 shares during the quarter. Brooklyn Investment Group’s holdings in Phillips 66 were worth $244,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PSX. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the third quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 during the third quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP boosted its stake 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 worth $53,000 after purchasing an additional 100 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.8 %

Shares of NYSE:PSX opened at $120.64 on Friday. 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 stock has a market capitalization of $49.82 billion, a PE ratio of 15.49, a P/E/G ratio of 3.17 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 firm has a fifty day moving average price of $122.47 and a 200 day moving average price of $129.74.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the company posted $4.63 EPS. The firm’s revenue was down 10.3% on a year-over-year basis. Analysts expect that Phillips 66 will post 7.22 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday, December 9th. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Scotiabank dropped their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.