ARS Investment Partners LLC Has $363,000 Holdings in Phillips 66 (NYSE:PSX)

ARS Investment Partners LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,186 shares of the oil and gas company’s stock after purchasing an additional 100 shares during the quarter. ARS Investment Partners LLC’s holdings in Phillips 66 were worth $363,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Phillips 66 during the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter valued at approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in Phillips 66 during the 3rd quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 during the 2nd quarter valued at approximately $51,000. Finally, Hoese & Co LLP increased its position in Phillips 66 by 33.1% during 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 period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. UBS Group dropped their price objective 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. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Price Performance

PSX opened at $120.64 on Tuesday. The stock has a fifty day simple moving average of $122.47 and a two-hundred day simple moving average of $129.59. 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 market cap of $49.82 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the company earned $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts predict that Phillips 66 will post 6.51 earnings per share for the current fiscal year.

Phillips 66 Company 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.