Stonegate Investment Group LLC Sells 6,129 Shares of Phillips 66 $PSX

Stonegate Investment Group LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 0.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 883,634 shares of the oil and gas company’s stock after selling 6,129 shares during the quarter. Phillips 66 comprises approximately 2.8% of Stonegate Investment Group LLC’s portfolio, making the stock its 9th biggest holding. Stonegate Investment Group LLC’s holdings in Phillips 66 were worth $120,192,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 during the second quarter worth $25,000. Wolff Wiese Magana LLC increased its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Phillips 66 in the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter valued at about $38,000. Finally, Operose Advisors LLC grew its position in shares of Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 250 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. 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 company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,094 shares of company stock worth $11,955,366 in the last three months. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

Shares of PSX stock opened at $140.42 on Tuesday. The business has a fifty day simple moving average of $136.20 and a 200 day simple moving average of $132.49. The company has a market cap of $56.58 billion, a P/E ratio of 38.37, a P/E/G ratio of 0.40 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 has a twelve month low of $91.01 and a twelve month high of $146.88.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations 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 business posted $2.04 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group raised their price objective on Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. cut their target price 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. Raymond James Financial raised their price target on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $153.53.

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.