Newbridge Financial Services Group Inc. Takes $31,000 Position in Phillips 66 (NYSE:PSX)

Newbridge Financial Services Group Inc. bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 274 shares of the oil and gas company’s stock, valued at approximately $31,000.

A number of other large investors also recently made changes to their positions in PSX. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $26,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Webster Bank N. A. increased its holdings in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Finally, YANKCOM Partnership acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PSX shares. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. 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 for the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Up 4.9 %

Shares of Phillips 66 stock opened at $129.74 on Wednesday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The stock has a market capitalization of $53.58 billion, a P/E ratio of 26.26, a PEG ratio of 5.64 and a beta of 1.37. The stock has a 50 day moving average price of $119.04 and a two-hundred day moving average price of $127.66. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the business earned $3.09 EPS. Equities analysts expect that Phillips 66 will post 7.14 earnings per share for the current 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.