Global Trust Asset Management LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 3.4% during the fourth quarter, HoldingsChannel reports. The firm owned 5,944 shares of the oil and gas company’s stock after selling 207 shares during the period. Global Trust Asset Management LLC’s holdings in Phillips 66 were worth $512,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Moody National Bank Trust Division increased its stake in Phillips 66 by 425.4% in the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 285 shares during the last quarter. IMS Capital Management bought a new position in Phillips 66 in the 3rd quarter worth about $86,000. Capital Advisors Ltd. LLC increased its stake in Phillips 66 by 152.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 570 shares during the last quarter. Willingdon Wealth Management bought a new position in Phillips 66 in the 3rd quarter worth about $139,000. Finally, Ropes Wealth Advisors LLC increased its stake in Phillips 66 by 136.5% in the 3rd quarter. Ropes Wealth Advisors LLC now owns 1,386 shares of the oil and gas company’s stock worth $156,000 after acquiring an additional 800 shares during the last quarter. 69.19% of the stock is currently owned by institutional investors and hedge funds.
PSX has been the topic of a number of research analyst reports. Wells Fargo & Co upped their target price on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, October 29th. Raymond James decreased their target price on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Monday, December 31st. Zacks Investment Research lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. JPMorgan Chase & Co. upgraded Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 target price on the stock in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Barclays upgraded Phillips 66 from an “underweight” rating to an “equal weight” rating and decreased their target price for the stock from $133.00 to $128.00 in a research note on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $121.87.
In other news, Director J Brian Ferguson acquired 21,500 shares of Phillips 66 stock in a transaction dated Tuesday, November 20th. The shares were purchased at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.56% of the stock is currently owned by corporate insiders.
Shares of Phillips 66 stock traded down $0.23 during trading on Friday, hitting $92.71. 170,892 shares of the stock traded hands, compared to its average volume of 2,912,731. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $42.42 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 1.17 and a beta of 0.91. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the consensus estimate of $2.50 by $0.60. The firm had revenue of $30.59 billion for the quarter, compared to analyst estimates of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same period in the prior year, the company earned $1.66 EPS. As a group, analysts predict that Phillips 66 will post 9.18 earnings per share for the current fiscal year.
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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, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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