First National Advisers LLC Acquires 5,621 Shares of Phillips 66 $PSX

First National Advisers LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 49.3% during the third quarter, HoldingsChannel reports. The firm owned 17,028 shares of the oil and gas company’s stock after buying an additional 5,621 shares during the period. First National Advisers LLC’s holdings in Phillips 66 were worth $2,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of PSX. Elliott Investment Management L.P. raised its stake in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of Phillips 66 by 5.0% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after purchasing an additional 10,000 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Chronos Wealth Management LLC purchased a new position in shares of Phillips 66 during the 2nd quarter valued at $281,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Phillips 66 during the 2nd quarter valued at $4,952,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 1.2%

Shares of PSX opened at $138.27 on Friday. The business’s 50 day simple moving average is $136.07 and its 200-day simple moving average is $131.92. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $145.68. 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 stock has a market capitalization of $55.71 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 0.39 and a beta of 0.90.

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

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, December 18th. Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Mizuho boosted their price target on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. UBS Group reaffirmed a “buy” rating on shares of Phillips 66 in a report on Tuesday, January 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $150.41.

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.