Stonegate Investment Group LLC Cuts Stake in Phillips 66 $PSX

Stonegate Investment Group LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 883,634 shares of the oil and gas company’s stock after selling 6,129 shares during the period. Phillips 66 makes up about 2.8% of Stonegate Investment Group LLC’s investment portfolio, making the stock its 9th largest holding. Stonegate Investment Group LLC owned about 0.22% of Phillips 66 worth $120,192,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Saxon Interests Inc. increased its holdings in Phillips 66 by 3.9% during the 3rd quarter. Saxon Interests Inc. now owns 2,568 shares of the oil and gas company’s stock worth $343,000 after purchasing an additional 97 shares in the last quarter. CFS Investment Advisory Services LLC boosted its position in shares of Phillips 66 by 4.5% during the third quarter. CFS Investment Advisory Services LLC now owns 5,135 shares of the oil and gas company’s stock worth $693,000 after buying an additional 222 shares during the period. Purkiss Capital Advisors LLC grew its holdings in shares of Phillips 66 by 19.4% during the third quarter. Purkiss Capital Advisors LLC now owns 5,072 shares of the oil and gas company’s stock worth $690,000 after buying an additional 824 shares in the last quarter. National Wealth Management Group LLC bought a new position in shares of Phillips 66 during the third quarter worth about $488,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in Phillips 66 by 6.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 56,241 shares of the oil and gas company’s stock valued at $7,656,000 after buying an additional 3,294 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on PSX shares. Citigroup upped their price target on Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. TD Cowen increased their target price on shares of Phillips 66 from $145.00 to $151.00 and gave the stock a “buy” rating in a report on Tuesday, January 20th. Wall Street Zen downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.53.

Phillips 66 Stock Down 0.8%

Shares of PSX stock opened at $140.42 on Tuesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $146.88. The stock has a market cap of $56.58 billion, a price-to-earnings ratio of 38.37, a PEG ratio of 0.40 and a beta of 0.90. The firm’s 50-day moving average is $136.20 and its 200-day moving average is $132.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

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

About Phillips 66

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.