FNY Investment Advisers LLC Makes New Investment in Phillips 66 (NYSE:PSX)

FNY Investment Advisers LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,100 shares of the oil and gas company’s stock, valued at approximately $125,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the 3rd quarter worth about $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at about $51,000. Finally, Hoese & Co LLP grew its stake in shares of Phillips 66 by 33.1% in the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 100 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Scotiabank reduced their price objective on shares of 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 began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Barclays reduced their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, UBS Group lowered 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. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Trading Up 0.9 %

Shares of PSX stock opened at $117.03 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The firm’s fifty day simple moving average is $122.91 and its 200 day simple moving average is $130.03. The firm has a market capitalization of $48.33 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the business earned $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, sell-side analysts predict that Phillips 66 will post 7.56 EPS for the current year.

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.