Wendell David Associates Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 18.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,296 shares of the oil and gas company’s stock after selling 516 shares during the quarter. Wendell David Associates Inc.’s holdings in Phillips 66 were worth $219,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in PSX. Moody National Bank Trust Division grew its position in shares of 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 buying an additional 285 shares during the period. Proficio Capital Partners LLC boosted its stake in Phillips 66 by 46.1% during the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 137 shares during the last quarter. FNY Investment Advisers LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $37,000. Truehand Inc bought a new position in Phillips 66 during the 4th quarter worth approximately $40,000. Finally, Massey Quick Simon & CO. LLC bought a new position in Phillips 66 during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 71.50% of the company’s stock.
Several research analysts recently weighed in on PSX shares. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Piper Jaffray Companies reissued an “overweight” rating on shares of Phillips 66 in a research note on Thursday, January 10th. Jefferies Financial Group lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. Citigroup lifted their price objective on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Phillips 66 has a consensus rating of “Hold” and an average target price of $120.67.
PSX traded up $0.46 during trading on Friday, reaching $89.56. 2,699,563 shares of the stock were exchanged, compared to its average volume of 2,646,284. The company has a market cap of $40.62 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.48 and a beta of 0.92. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 20.11%. The firm had revenue of $23.66 billion for the quarter, compared to the consensus estimate of $24.66 billion. During the same period in the previous year, the company earned $1.04 earnings per share. As a group, research analysts forecast that Phillips 66 will post 7.51 earnings per share for the current year.
About Phillips 66
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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