Whittier Trust Co. of Nevada Inc. Increases Stake in Phillips 66 (NYSE:PSX)

Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,076 shares of the oil and gas company’s stock after buying an additional 283 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Phillips 66 were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $559,435,000. Boston Partners lifted its stake in shares of Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after buying an additional 3,494,878 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after buying an additional 2,209,043 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $254,336,000. Finally, Wellington Management Group LLP lifted its stake in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $0.12 during trading hours on Wednesday, reaching $132.69. 47,306 shares of the company’s stock were exchanged, compared to its average volume of 2,729,594. The business has a fifty day moving average of $140.76 and a two-hundred day moving average of $145.12. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $56.25 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. Phillips 66 has a 1 year low of $98.65 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the company earned $4.21 EPS. As a group, research analysts predict that Phillips 66 will post 10.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSX shares. Argus reissued a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Mizuho reduced their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. Finally, TD Cowen reduced their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 21st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.64.

View Our Latest Analysis on PSX

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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