First National Advisers LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

First National Advisers LLC raised its stake in Phillips 66 (NYSE:PSXGet Rating) by 41.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,808 shares of the oil and gas company’s stock after purchasing an additional 1,405 shares during the quarter. First National Advisers LLC’s holdings in Phillips 66 were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. WFA of San Diego LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $25,000. Heritage Financial Services LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $28,000. Horan Securities Inc. lifted its holdings in shares of Phillips 66 by 210.6% in the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 238 shares during the period. Core Alternative Capital lifted its holdings in shares of Phillips 66 by 218.3% in the 3rd quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 251 shares during the period. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Phillips 66 by 79.2% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 362 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 160 shares during the period. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Mizuho reissued a “neutral” rating and issued a $121.00 price target (up from $115.00) on shares of Phillips 66 in a report on Tuesday, January 10th. BMO Capital Markets raised their price target on Phillips 66 from $120.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday, November 10th. Cowen lifted their price objective on Phillips 66 to $115.00 in a report on Tuesday, November 15th. Piper Sandler reduced their price objective on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a report on Monday, December 19th. Finally, Jefferies Financial Group began coverage on Phillips 66 in a report on Wednesday, October 19th. They set a “hold” rating and a $105.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.93.

Phillips 66 Price Performance

Phillips 66 stock traded down $0.26 during mid-day trading on Wednesday, hitting $106.75. 406,683 shares of the company were exchanged, compared to its average volume of 2,824,855. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.06. The business’s 50 day simple moving average is $104.51 and its two-hundred day simple moving average is $95.44. The company has a market capitalization of $50.45 billion, a P/E ratio of 4.90, a PEG ratio of 0.40 and a beta of 1.41. Phillips 66 has a 12-month low of $73.85 and a 12-month high of $113.53.

Phillips 66 (NYSE:PSXGet Rating) last released its quarterly earnings results on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share for the quarter, topping the consensus estimate of $4.98 by $1.48. The company had revenue of $48.76 billion during the quarter, compared to the consensus estimate of $40.68 billion. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. During the same quarter last year, the business posted $3.18 earnings per share. Analysts forecast that Phillips 66 will post 19.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 600 shares of the firm’s stock in a transaction on Tuesday, November 15th. The stock was sold at an average price of $110.68, for a total transaction of $66,408.00. Following the completion of the transaction, the vice president now owns 15,302 shares of the company’s stock, valued at $1,693,625.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.74% of the stock is currently owned by company insiders.

Phillips 66 Profile

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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 petroleum products to market; provides terminaling and storage services for crude oil and refined 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.

See Also

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

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