Phillips 66 (PSX) Position Cut by Gradient Investments LLC

Gradient Investments LLC lowered its stake in Phillips 66 (NYSE:PSX) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 80,387 shares of the oil and gas company’s stock after selling 13,564 shares during the quarter. Gradient Investments LLC’s holdings in Phillips 66 were worth $7,650,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Moody National Bank Trust Division increased its holdings in Phillips 66 by 425.4% during the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 285 shares in the last quarter. FNY Investment Advisers LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at about $37,000. Proficio Capital Partners LLC grew its holdings in shares of Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 137 shares in the last quarter. Truehand Inc bought a new position in shares of Phillips 66 in the 4th quarter valued at about $40,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at about $41,000. 71.50% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on PSX shares. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Piper Jaffray Companies restated an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and raised their price objective for the company from $105.00 to $107.00 in a report on Monday, April 15th. Citigroup raised their price objective on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $120.67.

Shares of PSX stock opened at $89.56 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.48 and a quick ratio of 1.08. The company has a market cap of $40.87 billion, a price-to-earnings ratio of 7.65, a P/E/G ratio of 1.48 and a beta of 0.92. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $123.97.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 20.11%. The company had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the business earned $1.04 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 7.51 EPS for the current fiscal year.

In related news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company 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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