Phillips 66 (NYSE:PSX) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,388 shares of the oil and gas company’s stock after selling 1,067 shares during the quarter. Fulton Bank N.A.’s holdings in Phillips 66 were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PSX. Azzad Asset Management Inc. ADV raised its holdings in shares of Phillips 66 by 8.7% in the third quarter. Azzad Asset Management Inc. ADV now owns 20,600 shares of the oil and gas company’s stock worth $2,708,000 after buying an additional 1,654 shares during the last quarter. WealthBridge Capital Management LLC increased its position in shares of Phillips 66 by 40.7% in the 3rd quarter. WealthBridge Capital Management LLC now owns 2,895 shares of the oil and gas company’s stock valued at $381,000 after acquiring an additional 838 shares during the period. GAMMA Investing LLC raised its stake in Phillips 66 by 21.5% in the 3rd quarter. GAMMA Investing LLC now owns 8,343 shares of the oil and gas company’s stock worth $1,097,000 after acquiring an additional 1,479 shares during the last quarter. Quent Capital LLC lifted its position in Phillips 66 by 11.1% during the 3rd quarter. Quent Capital LLC now owns 2,251 shares of the oil and gas company’s stock worth $296,000 after acquiring an additional 224 shares during the period. Finally, Mirador Capital Partners LP grew its stake in Phillips 66 by 2.9% during the 3rd quarter. Mirador Capital Partners LP now owns 47,549 shares of the oil and gas company’s stock valued at $6,250,000 after purchasing an additional 1,325 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 4.5 %

Phillips 66 stock opened at $132.31 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $56.09 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 5.46 and a beta of 1.33. The business has a 50 day simple moving average of $133.79 and a 200-day simple moving average of $142.02. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly 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. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.87 EPS. On average, analysts anticipate that Phillips 66 will post 8.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PSX. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday. Scotiabank decreased their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Barclays cut their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.93.

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.