Leavell Investment Management Inc. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,190 shares of the oil and gas company’s stock after selling 450 shares during the period. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $1,731,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of PSX. Millennium Management LLC raised its stake in shares of Phillips 66 by 61.1% in the fourth quarter. Millennium Management LLC now owns 2,141,445 shares of the oil and gas company’s stock worth $184,485,000 after acquiring an additional 811,879 shares during the last quarter. Prudential PLC increased its stake in Phillips 66 by 9.3% in the fourth quarter. Prudential PLC now owns 652,013 shares of the oil and gas company’s stock valued at $56,170,000 after purchasing an additional 55,306 shares in the last quarter. Hancock Whitney Corp increased its stake in Phillips 66 by 2.1% in the fourth quarter. Hancock Whitney Corp now owns 63,939 shares of the oil and gas company’s stock valued at $5,509,000 after purchasing an additional 1,293 shares in the last quarter. IFM Investors Pty Ltd increased its stake in Phillips 66 by 10.2% in the fourth quarter. IFM Investors Pty Ltd now owns 25,579 shares of the oil and gas company’s stock valued at $2,204,000 after purchasing an additional 2,364 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in Phillips 66 by 11.4% in the fourth quarter. Fiera Capital Corp now owns 39,263 shares of the oil and gas company’s stock valued at $3,383,000 after purchasing an additional 4,013 shares in the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
Several equities research analysts have commented on the stock. Argus lowered their target price on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, December 20th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday. Citigroup upped their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Finally, Raymond James lowered their target price on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, December 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Hold” and a consensus target price of $120.18.
In other news, Chairman Greg C. Garland sold 42,728 shares of the company’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.
Phillips 66 stock opened at $95.98 on Wednesday. The company has a market capitalization of $43.73 billion, a PE ratio of 8.20, a P/E/G ratio of 1.43 and a beta of 0.94. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.41.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.76 by $2.11. The company had revenue of $29.84 billion during the quarter, compared to analysts’ expectations of $35.51 billion. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. During the same quarter in the prior year, the company earned $1.07 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 7.92 EPS for the current fiscal year.
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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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