Community Bank N.A. Purchases 300 Shares of Phillips 66 (PSX)
Community Bank N.A. grew its position in shares of Phillips 66 (NYSE:PSX) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,587 shares of the oil and gas company’s stock after buying an additional 300 shares during the period. Community Bank N.A.’s holdings in Phillips 66 were worth $653,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of PSX. FMR LLC boosted its stake in Phillips 66 by 9.0% in the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock valued at $1,617,273,000 after buying an additional 1,188,567 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Phillips 66 by 10.0% in the second quarter. Advisors Asset Management Inc. now owns 50,376 shares of the oil and gas company’s stock valued at $5,658,000 after buying an additional 4,585 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in Phillips 66 in the third quarter valued at about $308,000. Bank of Stockton boosted its stake in Phillips 66 by 5.4% in the third quarter. Bank of Stockton now owns 13,098 shares of the oil and gas company’s stock valued at $1,475,000 after buying an additional 676 shares in the last quarter. Finally, Denali Advisors LLC boosted its stake in Phillips 66 by 3.9% in the third quarter. Denali Advisors LLC now owns 56,200 shares of the oil and gas company’s stock valued at $6,335,000 after buying an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 69.43% of the company’s stock.
In related news, Director J Brian Ferguson acquired 21,500 shares of the stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $92.31 per share, for a total transaction of $1,984,665.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.56% of the stock is owned by company insiders.
Several research firms recently weighed in on PSX. Jefferies Financial Group raised Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective on the stock in a research note on Tuesday, October 16th. Raymond James reduced their price objective on Phillips 66 from $139.00 to $135.00 and set an “outperform” rating on the stock in a research note on Monday, October 29th. Wells Fargo & Co raised their price objective on Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, October 29th. JPMorgan Chase & Co. raised Phillips 66 from a “neutral” rating to an “overweight” rating and set a $138.00 price objective on the stock in a research note on Tuesday, October 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research reaffirmed a “buy” rating and issued a $113.00 price objective on shares of Phillips 66 in a research note on Wednesday, November 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $123.62.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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