Strategic Advisors LLC Sells 521 Shares of Phillips 66 (NYSE:PSX)

Strategic Advisors LLC trimmed its position in Phillips 66 (NYSE:PSX) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,849 shares of the oil and gas company’s stock after selling 521 shares during the period. Strategic Advisors LLC’s holdings in Phillips 66 were worth $1,032,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Sendero Wealth Management LLC raised its holdings in Phillips 66 by 25.0% during the third quarter. Sendero Wealth Management LLC now owns 40,501 shares of the oil and gas company’s stock worth $5,324,000 after acquiring an additional 8,098 shares in the last quarter. Cadinha & Co. LLC increased its stake in shares of Phillips 66 by 24.4% during the third quarter. Cadinha & Co. LLC now owns 4,080 shares of the oil and gas company’s stock worth $536,000 after purchasing an additional 800 shares during the period. Sanibel Captiva Trust Company Inc. increased its stake in shares of Phillips 66 by 3.0% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 6,869 shares of the oil and gas company’s stock worth $903,000 after purchasing an additional 203 shares during the period. CWM LLC increased its stake in shares of Phillips 66 by 23.0% during the third quarter. CWM LLC now owns 28,618 shares of the oil and gas company’s stock worth $3,762,000 after purchasing an additional 5,350 shares during the period. Finally, Daymark Wealth Partners LLC increased its stake in shares of Phillips 66 by 1.2% during the third quarter. Daymark Wealth Partners LLC now owns 75,295 shares of the oil and gas company’s stock worth $9,898,000 after purchasing an additional 877 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.4 %

Shares of PSX stock traded up $1.89 during mid-day trading on Thursday, hitting $136.61. The company’s stock had a trading volume of 453,159 shares, compared to its average volume of 2,710,261. The company’s fifty day simple moving average is $133.28 and its 200-day simple moving average is $141.78. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $57.92 billion, a PE ratio of 10.51, a P/E/G ratio of 5.46 and a beta of 1.33.

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

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Piper Sandler raised their price objective on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley lowered their price objective 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. Finally, TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $151.21.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.22% of the stock is currently owned by corporate 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.