MV Capital Management Inc. Buys 73 Shares of Phillips 66 (NYSE:PSX)

MV Capital Management Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 9.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 837 shares of the oil and gas company’s stock after purchasing an additional 73 shares during the quarter. MV Capital Management Inc.’s holdings in Phillips 66 were worth $137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. First United Bank & Trust bought a new stake in Phillips 66 during the fourth quarter worth $31,000. Rise Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $40,000. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $33,000. Finally, Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $36,000. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PSX shares. Argus reiterated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. The Goldman Sachs Group lifted their price target 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. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Raymond James decreased their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Barclays lowered their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

Phillips 66 Stock Performance

NYSE:PSX opened at $140.47 on Wednesday. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a 50 day simple moving average of $142.59 and a two-hundred day simple moving average of $144.90. The company has a market capitalization of $59.55 billion, a PE ratio of 10.81, a P/E/G ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period last year, the firm posted $4.21 earnings per share. Research analysts anticipate that Phillips 66 will post 10.99 earnings per share for the current year.

About Phillips 66

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.