Phillips 66 $PSX Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 7.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,233 shares of the oil and gas company’s stock after selling 3,726 shares during the period. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $6,289,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in PSX. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after buying an additional 5,978,841 shares during the period. Elliott Investment Management L.P. lifted its position in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after acquiring an additional 1,532,967 shares during the period. Bank of New York Mellon Corp grew its position in Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after acquiring an additional 537,245 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $523,755,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 1.2%

Shares of Phillips 66 stock opened at $138.27 on Friday. The business has a 50-day moving average price of $136.07 and a 200 day moving average price of $131.92. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68. The firm has a market cap of $55.71 billion, a P/E ratio of 37.78, a P/E/G ratio of 0.39 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the firm earned $2.04 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Piper Sandler set a $153.00 price objective on shares of Phillips 66 in a research report on Monday. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. UBS Group reissued a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. Finally, Citigroup raised their price objective on Phillips 66 from $137.00 to $146.00 and gave the company a “neutral” rating in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $150.41.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This represents a 12.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,094 shares of company stock valued at $11,955,366 over the last 90 days. 0.22% of the stock is owned by company insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.