Merrion Investment Management Co LLC Sells 350 Shares of Phillips 66 (NYSE:PSX)

Merrion Investment Management Co LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 6.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the oil and gas company’s stock after selling 350 shares during the period. Merrion Investment Management Co LLC’s holdings in Phillips 66 were worth $570,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at approximately $26,000. Values First Advisors Inc. bought a new position in Phillips 66 in the third quarter worth approximately $30,000. Webster Bank N. A. raised its position in Phillips 66 by 48.4% in the fourth 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. Point72 Hong Kong Ltd bought a new position in Phillips 66 in the third quarter worth approximately $40,000. Finally, Sugar Maple Asset Management LLC bought a new position in Phillips 66 in the fourth quarter worth approximately $47,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Finally, UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

PSX opened at $122.20 on Thursday. The stock has a market capitalization of $50.47 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 3.78 and a beta of 1.38. The company has a fifty day moving average of $121.27 and a 200 day moving average of $128.82. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 (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 the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $4.63 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.41 earnings per share for the current fiscal year.

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.