Russell Investments Group Ltd. decreased its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 50.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 450,829 shares of the oil and gas company’s stock after selling 462,890 shares during the quarter. Russell Investments Group Ltd.’s holdings in Phillips 66 were worth $36,381,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. WFA of San Diego LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $25,000. Heritage Financial Services LLC acquired a new stake in shares of Phillips 66 during the second quarter worth $28,000. Worth Asset Management LLC acquired a new stake in shares of Phillips 66 during the first quarter worth $32,000. Horan Securities Inc. lifted its holdings in shares of Phillips 66 by 210.6% during the third quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after buying an additional 238 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its holdings in shares of Phillips 66 by 79.2% during the second quarter. FinTrust Capital Advisors LLC now owns 362 shares of the oil and gas company’s stock worth $31,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.
Insider Buying and Selling
In related news, VP Joseph Scott Pruitt sold 3,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $111.86, for a total value of $335,580.00. Following the transaction, the vice president now directly owns 15,302 shares of the company’s stock, valued at $1,711,681.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.74% of the stock is owned by insiders.
Phillips 66 Stock Performance
Phillips 66 (NYSE:PSX – Get 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 for the quarter, compared to analysts’ expectations of $40.68 billion. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. During the same period in the previous year, the business posted $3.18 earnings per share. Equities research analysts anticipate that Phillips 66 will post 19.45 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PSX. BMO Capital Markets lifted their target price on Phillips 66 from $120.00 to $125.00 and gave the stock an “outperform” rating in a report on Thursday, November 10th. Jefferies Financial Group began coverage on Phillips 66 in a research report on Wednesday, October 19th. They issued a “hold” rating and a $105.00 price target on the stock. Cowen raised their price target on Phillips 66 to $115.00 in a research report on Tuesday, November 15th. Morgan Stanley raised their price target on Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Friday, January 20th. Finally, Royal Bank of Canada raised their price target on Phillips 66 from $119.00 to $131.00 and gave the stock an “outperform” rating in a research report on Thursday, November 10th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $118.93.
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 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.
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