Fourpath Capital Management LLC Lowers Stake in Phillips 66 (NYSE:PSX)

Fourpath Capital Management LLC trimmed its position in Phillips 66 (NYSE:PSX) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,149 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Fourpath Capital Management LLC’s holdings in Phillips 66 were worth $359,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter worth approximately $30,000. Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the period. Crews Bank & Trust acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $32,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $40,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $123.58 on Wednesday. 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 firm’s 50-day moving average price is $120.23 and its two-hundred day moving average price is $128.25. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market capitalization of $51.04 billion, a P/E ratio of 25.02, a P/E/G ratio of 3.89 and a beta of 1.37.

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 period in the prior year, the company posted $3.09 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 7.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Barclays reduced their target price 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Company Profile

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.