Park Place Capital Corp Sells 603 Shares of Phillips 66 (NYSE:PSX)

Park Place Capital Corp decreased its holdings in Phillips 66 (NYSE:PSX) by 34.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,149 shares of the oil and gas company’s stock after selling 603 shares during the quarter. Park Place Capital Corp’s holdings in Phillips 66 were worth $131,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. bought a new position in Phillips 66 during the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new position in Phillips 66 during the 3rd quarter worth $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Phillips 66 in the 2nd quarter worth $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 purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $118.55 on Thursday. 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 fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock has a market cap of $48.96 billion, a PE ratio of 15.22, a price-to-earnings-growth ratio of 3.84 and a beta of 1.38. The stock has a fifty day moving average of $122.18 and a 200-day moving average of $129.32.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the firm earned $4.63 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Phillips 66 will post 6.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Scotiabank reduced their price objective 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. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. 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 research note on Monday, January 13th. Wells Fargo & Company lowered their target price on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.