Clear Harbor Asset Management LLC Purchases New Shares in Phillips 66 (NYSE:PSX)

Clear Harbor Asset Management LLC acquired a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,264 shares of the oil and gas company’s stock, valued at approximately $372,000.

Several other large investors also recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter worth about $30,000. Point72 Hong Kong Ltd acquired a new position in Phillips 66 during the 3rd quarter valued at about $40,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $51,000. Finally, Hoese & Co LLP grew its position in shares of 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 buying an additional 100 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

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

Phillips 66 Stock Down 0.1 %

PSX opened at $120.38 on Wednesday. The stock’s fifty day simple moving average is $122.33 and its 200 day simple moving average is $129.45. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The stock has a market cap of $49.72 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 3.76 and a beta of 1.38. 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 issued 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 company had revenue of $36.16 billion for the quarter, compared to analyst estimates 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 firm earned $4.63 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.51 earnings per share for the current 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.