3,590 Shares in Phillips 66 $PSX Acquired by National Wealth Management Group LLC

by · The Markets Daily

National Wealth Management Group LLC acquired a new stake in Phillips 66 (NYSE:PSX – Free Report) in the third quarter, according to its most recent filing with the SEC. The fund acquired 3,590 shares of the oil and gas company’s stock, valued at approximately $488,000.

Several other institutional investors have also recently made changes to their positions in PSX. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Phillips 66 during the 2nd quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the second quarter valued at about $38,000. Finally, Operose Advisors LLC lifted its holdings in shares of Phillips 66 by 260.4% in the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after buying an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on PSX. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Scotiabank reissued a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a report on Friday, January 16th. TD Cowen boosted their price target on shares of Phillips 66 from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Wolfe Research increased their price objective on Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Finally, Morgan Stanley boosted their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, Phillips 66 currently has an average rating of “Hold” and a consensus target price of $153.53.

Check Out Our Latest Stock Report on PSX

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the completion of the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at $4,377,985. The trade was a 12.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 86,094 shares of company stock worth $11,955,366. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $141.51 on Monday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $57.02 billion, a PE ratio of 38.66, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. The business’s 50-day moving average price is $136.13 and its 200-day moving average price is $132.45. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $146.88.

Phillips 66 (NYSE:PSX – Get Free Report) last released its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate 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 in the previous year, the company posted $2.04 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Profile

(Free Report)

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.

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