Exeter Financial LLC Grows Position in Phillips 66 (NYSE:PSX)

Exeter Financial LLC raised its position in Phillips 66 (NYSE:PSX) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,730 shares of the oil and gas company’s stock after buying an additional 1,675 shares during the quarter. Exeter Financial LLC’s holdings in Phillips 66 were worth $1,450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the 3rd quarter worth $30,000. Point72 Hong Kong Ltd acquired a new position in Phillips 66 in the third quarter valued at $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Phillips 66 in the second quarter valued at about $51,000. Finally, Hoese & Co LLP raised its holdings 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 buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.8 %

PSX stock opened at $116.02 on Tuesday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a market cap of $47.91 billion, a price-to-earnings ratio of 14.89, a PEG ratio of 4.06 and a beta of 1.38. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The business has a fifty day simple moving average of $123.00 and a 200-day simple moving average of $130.20.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. During the same period in the previous year, the company posted $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 will post 7.56 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Scotiabank cut their price target on 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. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Morgan Stanley cut their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.93.

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.