JustInvest LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

JustInvest LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 35.9% in the 3rd quarter, Holdings Channel reports. The firm owned 4,693 shares of the oil and gas company’s stock after selling 2,631 shares during the period. JustInvest LLC’s holdings in Phillips 66 were worth $329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Phillips 66 by 12.8% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 80,861 shares of the oil and gas company’s stock worth $6,939,000 after purchasing an additional 9,190 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV boosted its stake in Phillips 66 by 7.3% during the second quarter. Mid Atlantic Financial Management Inc. ADV now owns 4,656 shares of the oil and gas company’s stock worth $400,000 after buying an additional 318 shares during the last quarter. Toronto Dominion Bank boosted its stake in Phillips 66 by 78.2% during the second quarter. Toronto Dominion Bank now owns 440,859 shares of the oil and gas company’s stock worth $37,834,000 after buying an additional 193,491 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Phillips 66 during the second quarter worth $10,462,000. Finally, Principal Financial Group Inc. boosted its stake in Phillips 66 by 4.6% during the second quarter. Principal Financial Group Inc. now owns 674,496 shares of the oil and gas company’s stock worth $57,885,000 after buying an additional 29,866 shares during the last quarter. Hedge funds and other institutional investors own 68.17% of the company’s stock.

PSX stock opened at $88.58 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $38.81 billion, a PE ratio of -77.03, a P/E/G ratio of 0.62 and a beta of 1.66. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $94.34. The business’s fifty day moving average price is $74.76 and its 200 day moving average price is $74.80.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Thursday, October 28th. The oil and gas company reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $1.23. The firm had revenue of $31.47 billion for the quarter, compared to the consensus estimate of $24.33 billion. Phillips 66 had a positive return on equity of 3.44% and a negative net margin of 0.50%. During the same quarter in the previous year, the business earned ($0.01) EPS. Research analysts predict that Phillips 66 will post 4.69 EPS for the current fiscal year.

In other Phillips 66 news, VP Joseph Scott Pruitt sold 2,250 shares of the company’s stock in a transaction dated Thursday, December 23rd. The stock was sold at an average price of $72.62, for a total transaction of $163,395.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.74% of the stock is owned by corporate insiders.

A number of equities analysts have weighed in on the company. Wells Fargo & Company boosted their price objective on Phillips 66 from $97.00 to $104.00 and gave the stock an “overweight” rating in a research note on Monday, November 15th. Royal Bank of Canada boosted their price objective on Phillips 66 from $94.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 2nd. Cowen boosted their price objective on Phillips 66 from $77.00 to $78.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 28th. JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and upped their price target for the company from $83.00 to $93.00 in a research note on Wednesday, December 8th. Finally, Citigroup upped their price target on Phillips 66 from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 6th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Buy” and an average target price of $89.80.

Phillips 66 Profile

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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

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