Wealth Enhancement Advisory Services LLC Decreases Position in Phillips 66 $PSX

Wealth Enhancement Advisory Services LLC reduced its stake in Phillips 66 (NYSE:PSX) by 26.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,188 shares of the oil and gas company’s stock after selling 48,770 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Phillips 66 were worth $18,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Intrua Financial LLC raised its position in Phillips 66 by 0.9% in the 3rd quarter. Intrua Financial LLC now owns 9,389 shares of the oil and gas company’s stock valued at $1,277,000 after purchasing an additional 80 shares in the last quarter. Florida Trust Wealth Management Co raised its holdings in Phillips 66 by 3.2% in the third quarter. Florida Trust Wealth Management Co now owns 8,765 shares of the oil and gas company’s stock valued at $1,192,000 after acquiring an additional 268 shares in the last quarter. Partners Wealth Management LLC purchased a new position in Phillips 66 in the third quarter worth approximately $211,000. Tred Avon Family Wealth LLC acquired a new position in Phillips 66 during the 3rd quarter worth approximately $736,000. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Phillips 66 by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,172,158 shares of the oil and gas company’s stock valued at $159,437,000 after purchasing an additional 160,407 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.2%

Phillips 66 stock opened at $141.98 on Friday. The company has a market capitalization of $57.21 billion, a P/E ratio of 38.79, a PEG ratio of 0.40 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68. The stock has a 50-day simple moving average of $136.14 and a 200-day simple moving average of $132.32.

Phillips 66 (NYSE:PSX) last released its quarterly 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 for the quarter, compared to analyst estimates of $32.29 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the transaction, the executive vice president directly owned 30,193 shares of the company’s stock, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 86,094 shares of company stock worth $11,955,366. Insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSX. Wall Street Zen downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Raymond James Financial dropped their price objective on Phillips 66 from $169.00 to $160.00 and set an “outperform” rating on the stock in a report on Monday, December 22nd. Piper Sandler set a $153.00 target price on Phillips 66 in a research note on Monday, January 12th. Finally, Jefferies Financial Group upped their price target on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus price target of $150.41.

Phillips 66 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.