ARS Investment Partners LLC Buys 100 Shares of Phillips 66 (NYSE:PSX)

ARS Investment Partners LLC lifted its stake in Phillips 66 (NYSE:PSX) by 3.2% during the 4th quarter, Holdings Channel reports. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PSX. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the period. ING Groep NV raised its stake in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can raised its stake in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. increased its stake in Phillips 66 by 73.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after acquiring an additional 309,507 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company dropped 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. Finally, JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Price Performance

PSX opened at $120.64 on Tuesday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market cap of $49.82 billion, a P/E ratio of 15.49, a PEG ratio of 3.76 and a beta of 1.38. The business has a fifty day moving average of $122.47 and a 200 day moving average of $129.59. 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 earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share 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 business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the business earned $4.63 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Phillips 66 will post 6.51 EPS for the current year.

About Phillips 66

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.