Argus Investors Counsel Inc. Buys New Shares in Phillips 66 (NYSE:PSX)

Argus Investors Counsel Inc. bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,957 shares of the oil and gas company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Silver Oak Securities Incorporated increased its position in Phillips 66 by 46.5% during the fourth quarter. Silver Oak Securities Incorporated now owns 2,135 shares of the oil and gas company’s stock worth $239,000 after buying an additional 678 shares during the last quarter. Elm3 Financial Group LLC bought a new stake in shares of Phillips 66 during the fourth quarter worth approximately $556,000. YANKCOM Partnership bought a new stake in shares of Phillips 66 during the fourth quarter worth approximately $31,000. Tyche Wealth Partners LLC boosted its holdings in shares of Phillips 66 by 12.7% during the fourth quarter. Tyche Wealth Partners LLC now owns 7,317 shares of the oil and gas company’s stock worth $834,000 after acquiring an additional 825 shares during the period. Finally, Choreo LLC boosted its holdings in shares of Phillips 66 by 37.0% during the fourth quarter. Choreo LLC now owns 24,075 shares of the oil and gas company’s stock worth $2,706,000 after acquiring an additional 6,497 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX opened at $123.31 on Thursday. The company has a fifty day moving average of $119.81 and a 200-day moving average of $128.11. The company has a market capitalization of $50.93 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 3.89 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the company earned $3.09 EPS. On average, equities analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSX shares. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. 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. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.