Patten Group Inc. Has $1.14 Million Stake in Phillips 66 (NYSE:PSX)

Patten Group Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,670 shares of the oil and gas company’s stock after selling 198 shares during the period. Patten Group Inc.’s holdings in Phillips 66 were worth $1,140,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the second quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at $28,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $134.72 on Thursday. The stock has a market capitalization of $57.11 billion, a P/E ratio of 10.36, a PEG ratio of 5.46 and a beta of 1.33. 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 firm’s 50 day moving average is $133.50 and its 200 day moving average is $141.83. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on PSX shares. TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. 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. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $151.86.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Company 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.