Park Place Capital Corp Sells 411 Shares of Phillips 66 (NYSE:PSX)

Park Place Capital Corp cut its holdings in shares of Phillips 66 (NYSE:PSX) by 19.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,752 shares of the oil and gas company’s stock after selling 411 shares during the period. Park Place Capital Corp’s holdings in Phillips 66 were worth $230,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter worth about $26,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $28,000. Ruedi Wealth Management Inc. raised its holdings in shares of Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $27,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several recent analyst reports. Scotiabank cut their target price on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company increased their price target on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $152.93.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $132.31 on Wednesday. The company has a market capitalization of $56.09 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 5.46 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock’s fifty day simple moving average is $133.79 and its 200-day simple moving average is $142.02.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the firm posted $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, sell-side analysts predict that Phillips 66 will post 8.21 earnings per share for the current fiscal year.

Phillips 66 Profile

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.