Tallon Kerry Patrick Purchases Shares of 2,939 Phillips 66 (NYSE:PSX)

Tallon Kerry Patrick purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,939 shares of the oil and gas company’s stock, valued at approximately $336,000.

A number of other large investors have also added to or reduced their stakes in PSX. nVerses Capital LLC bought a new position in shares of Phillips 66 during the third quarter valued at about $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the third quarter valued at about $30,000. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 during the third quarter valued at about $40,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 during the second quarter valued at about $51,000. Finally, Hoese & Co LLP grew its stake in shares of Phillips 66 by 33.1% during the third 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 during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $147.93.

Phillips 66 Stock Performance

Phillips 66 stock opened at $119.68 on Friday. The stock’s 50 day simple moving average is $122.73 and its two-hundred day simple moving average is $129.95. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock 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 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $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.