Tallon Kerry Patrick Takes Position in Phillips 66 (NYSE:PSX)

Tallon Kerry Patrick bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, Holdings Channel reports. The firm bought 2,939 shares of the oil and gas company’s stock, valued at approximately $336,000.

Several other large investors have also recently made changes to their positions in PSX. Citizens Financial Group Inc. RI lifted its holdings in shares of Phillips 66 by 68.2% during the second quarter. Citizens Financial Group Inc. RI now owns 3,692 shares of the oil and gas company’s stock valued at $521,000 after purchasing an additional 1,497 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Phillips 66 by 2.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 112,280 shares of the oil and gas company’s stock worth $15,851,000 after acquiring an additional 2,582 shares during the last quarter. Argent Trust Co raised its holdings in Phillips 66 by 3.1% in the 2nd quarter. Argent Trust Co now owns 8,715 shares of the oil and gas company’s stock worth $1,230,000 after acquiring an additional 262 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Phillips 66 by 10.7% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 15,595 shares of the oil and gas company’s stock worth $2,202,000 after acquiring an additional 1,504 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Phillips 66 by 6.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,815 shares of the oil and gas company’s stock worth $5,023,000 after acquiring an additional 2,330 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.6 %

Shares of PSX stock opened at $119.68 on Friday. 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 $122.73 and a 200-day moving average price of $129.95. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $49.43 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Phillips 66 will post 7.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group decreased their price objective 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. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Barclays decreased their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company decreased their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.