Elm3 Financial Group LLC Takes $556,000 Position in Phillips 66 (NYSE:PSX)

Elm3 Financial Group LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, Holdings Channel reports. The fund acquired 4,881 shares of the oil and gas company’s stock, valued at approximately $556,000.

Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 during the fourth quarter worth about $1,438,000. Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $1,149,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.2 %

Shares of PSX stock opened at $123.31 on Thursday. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The firm has a 50 day moving average price of $120.01 and a two-hundred day moving average price of $128.15. 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 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.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period last year, the firm earned $3.09 EPS. As a group, analysts predict that Phillips 66 will post 7.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their price objective 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. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.