Covington Capital Management Buys 135 Shares of Phillips 66 (PSX)

Covington Capital Management increased its holdings in shares of Phillips 66 (NYSE:PSX) by 2.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,536 shares of the oil and gas company’s stock after purchasing an additional 135 shares during the period. Covington Capital Management’s holdings in Phillips 66 were worth $563,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Prudential PLC lifted its stake in Phillips 66 by 9.3% in the 4th quarter. Prudential PLC now owns 652,013 shares of the oil and gas company’s stock valued at $56,170,000 after acquiring an additional 55,306 shares in the last quarter. Hancock Whitney Corp lifted its stake in Phillips 66 by 2.1% in the 4th quarter. Hancock Whitney Corp now owns 63,939 shares of the oil and gas company’s stock valued at $5,509,000 after acquiring an additional 1,293 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in Phillips 66 by 10.2% in the 4th quarter. IFM Investors Pty Ltd now owns 25,579 shares of the oil and gas company’s stock valued at $2,204,000 after acquiring an additional 2,364 shares in the last quarter. Charter Trust Co. lifted its stake in Phillips 66 by 5.7% in the 3rd quarter. Charter Trust Co. now owns 11,071 shares of the oil and gas company’s stock valued at $1,248,000 after acquiring an additional 595 shares in the last quarter. Finally, Fiera Capital Corp increased its position in shares of Phillips 66 by 11.4% during the 4th quarter. Fiera Capital Corp now owns 39,263 shares of the oil and gas company’s stock worth $3,383,000 after purchasing an additional 4,013 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.

Several research analysts have weighed in on PSX shares. Jefferies Financial Group raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. Raymond James lowered their price target on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Monday, December 31st. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Citigroup boosted their price target on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Phillips 66 in a research report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Phillips 66 presently has an average rating of “Hold” and a consensus price target of $120.18.

Shares of PSX stock traded down $0.93 during trading on Monday, reaching $96.24. 1,887,759 shares of the company’s stock were exchanged, compared to its average volume of 2,655,567. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $44.76 billion, a PE ratio of 8.22, a PEG ratio of 1.46 and a beta of 0.94. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $2.11. The business had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. During the same period in the previous year, the firm earned $1.07 EPS. As a group, sell-side analysts predict that Phillips 66 will post 7.95 EPS for the current fiscal year.

In related news, Chairman Greg C. Garland sold 42,728 shares of the business’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.13% of the company’s stock.

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Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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