Clear Harbor Asset Management LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Clear Harbor Asset Management LLC bought a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, HoldingsChannel.com reports. The firm bought 3,264 shares of the oil and gas company’s stock, valued at approximately $372,000.

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSX. Wells Fargo & Company reduced their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a report on Monday, December 9th. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $147.93.

Phillips 66 Stock Performance

NYSE:PSX opened at $120.38 on Wednesday. The stock’s 50-day moving average is $122.33 and its 200-day moving average is $129.45. The stock has a market cap of $49.72 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. Phillips 66 has a 1-year low of $108.90 and a 1-year 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.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company posted $4.63 EPS. Equities research analysts anticipate that Phillips 66 will post 6.51 earnings per share 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.