Global Trust Asset Management LLC lessened its stake in Phillips 66 (NYSE:PSX) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,944 shares of the oil and gas company’s stock after selling 207 shares during the quarter. Global Trust Asset Management LLC’s holdings in Phillips 66 were worth $512,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Curbstone Financial Management Corp lifted its holdings in Phillips 66 by 1.6% during the 4th quarter. Curbstone Financial Management Corp now owns 12,604 shares of the oil and gas company’s stock valued at $1,416,000 after purchasing an additional 200 shares during the last quarter. Moody National Bank Trust Division lifted its holdings in Phillips 66 by 425.4% during the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 285 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services lifted its holdings in Phillips 66 by 0.9% during the 4th quarter. First National Bank of Mount Dora Trust Investment Services now owns 45,055 shares of the oil and gas company’s stock valued at $3,882,000 after purchasing an additional 422 shares during the last quarter. M Holdings Securities Inc. lifted its holdings in Phillips 66 by 19.7% during the 2nd quarter. M Holdings Securities Inc. now owns 2,670 shares of the oil and gas company’s stock valued at $300,000 after purchasing an additional 439 shares during the last quarter. Finally, CX Institutional lifted its holdings in Phillips 66 by 3.4% during the 3rd quarter. CX Institutional now owns 13,250 shares of the oil and gas company’s stock valued at $1,494,000 after purchasing an additional 440 shares during the last quarter. 69.19% of the stock is owned by institutional investors.
In other news, Director J Brian Ferguson acquired 21,500 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The stock was purchased at an average price of $92.31 per share, for a total transaction of $1,984,665.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.56% of the company’s stock.
Several research firms have weighed in on PSX. Barclays upgraded Phillips 66 from an “underweight” rating to an “equal weight” rating and lowered their price objective for the stock from $133.00 to $128.00 in a research report on Wednesday, October 3rd. Zacks Investment Research cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Jefferies Financial Group upgraded Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective on the stock in a research report on Tuesday, October 16th. Raymond James decreased their price target on Phillips 66 from $139.00 to $135.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. Finally, Wells Fargo & Co raised their price target on Phillips 66 from $137.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, October 29th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $121.87.
Phillips 66 stock traded down $0.23 during midday trading on Friday, reaching $92.71. The company’s stock had a trading volume of 170,892 shares, compared to its average volume of 2,912,731. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The stock has a market cap of $42.42 billion, a PE ratio of 21.16, a P/E/G ratio of 1.17 and a beta of 0.91.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, October 26th. The oil and gas company reported $3.10 EPS for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.60. The firm had revenue of $30.59 billion for the quarter, compared to analyst estimates of $28.50 billion. Phillips 66 had a return on equity of 14.97% and a net margin of 5.72%. During the same period last year, the firm posted $1.66 earnings per share. As a group, analysts expect that Phillips 66 will post 9.18 earnings per share for the current year.
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Phillips 66 Profile
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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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