Community Bank & Trust Waco Texas grew its position in shares of Phillips 66 (NYSE:PSX) by 5.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,032 shares of the oil and gas company’s stock after acquiring an additional 625 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in Phillips 66 were worth $1,217,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in PSX. Institute for Wealth Management LLC. acquired a new stake in Phillips 66 in the second quarter worth about $979,000. Blue Edge Capital LLC lifted its holdings in Phillips 66 by 3.2% in the second quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock worth $421,000 after purchasing an additional 160 shares during the period. Wells Fargo & Company MN lifted its holdings in Phillips 66 by 0.9% in the second quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock worth $696,418,000 after purchasing an additional 71,098 shares during the period. Great Lakes Advisors LLC lifted its holdings in Phillips 66 by 3.5% in the second quarter. Great Lakes Advisors LLC now owns 603,678 shares of the oil and gas company’s stock worth $49,919,000 after purchasing an additional 20,264 shares during the period. Finally, Nationwide Fund Advisors lifted its holdings in Phillips 66 by 7.7% in the third quarter. Nationwide Fund Advisors now owns 338,816 shares of the oil and gas company’s stock worth $31,039,000 after purchasing an additional 24,318 shares during the period. 70.12% of the stock is owned by institutional investors.
Shares of Phillips 66 (NYSE:PSX) traded up $2.86 during trading on Wednesday, reaching $106.36. 1,272,223 shares of the company’s stock traded hands, compared to its average volume of 1,499,740. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. Phillips 66 has a 12-month low of $75.14 and a 12-month high of $105.09. The company has a market capitalization of $53,870.00, a PE ratio of 26.79, a PEG ratio of 1.63 and a beta of 1.24.
Phillips 66 announced that its board has initiated a stock buyback program on Monday, October 9th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
Several research firms recently weighed in on PSX. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phillips 66 in a report on Thursday, January 11th. Barclays reaffirmed a “sell” rating and issued a $111.00 price objective on shares of Phillips 66 in a report on Wednesday, January 10th. Scotiabank reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Phillips 66 in a report on Wednesday, January 10th. Credit Suisse Group began coverage on shares of Phillips 66 in a report on Wednesday, January 3rd. They issued a “neutral” rating and a $108.00 price objective for the company. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $102.00 price objective on shares of Phillips 66 in a report on Wednesday, December 20th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $96.66.
In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the business’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the sale, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by insiders.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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