Phillips 66 $PSX Shares Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 21.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,586 shares of the oil and gas company’s stock after purchasing an additional 4,209 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Phillips 66 were worth $3,122,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Vanguard Group Inc. grew its position in shares of Phillips 66 by 14.8% during 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 acquiring an additional 5,978,841 shares during the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the second quarter worth $523,755,000. Elliott Investment Management L.P. increased its holdings in shares of Phillips 66 by 22.4% during the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after purchasing an additional 3,526,000 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 17.4% in the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after acquiring an additional 1,532,967 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after purchasing an additional 1,431,450 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $138.27 on Tuesday. The company’s 50-day moving average price is $136.07 and its two-hundred day moving average price is $132.10. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $145.68. The firm has a market cap of $55.71 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 0.38 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 quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the company posted $2.04 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Analyst Ratings Changes

PSX has been the topic of several research reports. Wall Street Zen cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Citigroup raised their price objective on Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Scotiabank reaffirmed a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research report on Friday. Finally, Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $150.41.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the sale, the executive vice president owned 30,193 shares of the company’s stock, valued at $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. This trade represents a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is currently owned by corporate 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.