Phillips 66 (NYSE:PSX) Stock Holdings Decreased by Ignite Planners LLC

Ignite Planners LLC reduced its position in Phillips 66 (NYSE:PSX) by 9.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,640 shares of the oil and gas company’s stock after selling 180 shares during the period. Ignite Planners LLC’s holdings in Phillips 66 were worth $216,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position in shares of Phillips 66 by 185.2% in the third quarter. Versant Capital Management Inc now owns 2,045 shares of the oil and gas company’s stock worth $269,000 after acquiring an additional 1,328 shares in the last quarter. Azzad Asset Management Inc. ADV grew its position in Phillips 66 by 8.7% during the third quarter. Azzad Asset Management Inc. ADV now owns 20,600 shares of the oil and gas company’s stock valued at $2,708,000 after purchasing an additional 1,654 shares in the last quarter. WealthBridge Capital Management LLC grew its position in Phillips 66 by 40.7% during the third quarter. WealthBridge Capital Management LLC now owns 2,895 shares of the oil and gas company’s stock valued at $381,000 after purchasing an additional 838 shares in the last quarter. GAMMA Investing LLC grew its position in Phillips 66 by 21.5% during the third quarter. GAMMA Investing LLC now owns 8,343 shares of the oil and gas company’s stock valued at $1,097,000 after purchasing an additional 1,479 shares in the last quarter. Finally, Quent Capital LLC grew its position in Phillips 66 by 11.1% during the third quarter. Quent Capital LLC now owns 2,251 shares of the oil and gas company’s stock valued at $296,000 after purchasing an additional 224 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PSX shares. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Barclays reduced their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company lifted their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.93.

Phillips 66 Price Performance

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

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

Insider Buying and Selling

In related 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 transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, 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 legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

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.