Phillips 66 (NYSE:PSX) Shares Purchased by Saxon Interests Inc.

Saxon Interests Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,820 shares of the oil and gas company’s stock after acquiring an additional 361 shares during the period. Saxon Interests Inc.’s holdings in Phillips 66 were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd acquired a new position in Phillips 66 during the 3rd quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in Phillips 66 in the second quarter valued at approximately $51,000. Finally, Hoese & Co LLP boosted its stake in shares of Phillips 66 by 33.1% in the third 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. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of recent analyst reports. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company reduced their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Scotiabank dropped their price target 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 assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.93.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $119.84 on Friday. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. 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 firm has a 50-day moving average of $122.73 and a two-hundred day moving average of $129.95. The company has a market capitalization of $49.49 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 3.17 and a beta of 1.38.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 EPS. As a group, analysts expect that Phillips 66 will post 7.22 earnings per share for the current fiscal 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.