Strategic Planning Group LLC Purchases 14,870 Shares of Phillips 66 $PSX

Strategic Planning Group LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 38.0% during the third quarter, Holdings Channel reports. The firm owned 53,972 shares of the oil and gas company’s stock after acquiring an additional 14,870 shares during the period. Strategic Planning Group LLC’s holdings in Phillips 66 were worth $7,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 during the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC increased its position in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Webster Bank N. A. lifted its holdings in Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 100 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Phillips 66 in the second quarter worth $32,000. Finally, Nova Wealth Management Inc. bought a new position in Phillips 66 in the 1st quarter valued at $37,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PSX. Raymond James Financial lowered their target price on Phillips 66 from $169.00 to $160.00 and set an “outperform” rating on the stock in a research note on Monday, December 22nd. BMO Capital Markets lifted their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 18th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, UBS Group reiterated a “buy” rating on shares of Phillips 66 in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $147.82.

Phillips 66 Price Performance

Phillips 66 stock opened at $137.91 on Thursday. The firm has a market capitalization of $55.57 billion, a P/E ratio of 37.68, a PEG ratio of 0.36 and a beta of 0.90. Phillips 66 has a one year low of $91.01 and a one year high of $144.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The business has a fifty day moving average price of $135.59 and a 200-day moving average price of $130.99.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the prior year, the firm posted $2.04 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling

In other news, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 81,700 shares of company stock valued at $11,318,236 over the last 90 days. 0.22% of the stock is owned by company insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.