Phillips 66 $PSX Shares Sold by Leavell Investment Management Inc.

Leavell Investment Management Inc. cut its stake in Phillips 66 (NYSE:PSX) by 7.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,233 shares of the oil and gas company’s stock after selling 3,726 shares during the period. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $6,289,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Management Inc. acquired a new stake in shares of Phillips 66 in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the period. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Phillips 66 in the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $38,000. Finally, Operose Advisors LLC raised its holdings in shares of Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 1.2%

Shares of PSX stock opened at $138.27 on Friday. The stock has a 50-day simple moving average of $136.07 and a 200 day simple moving average of $131.92. The stock has a market capitalization of $55.71 billion, a P/E ratio of 37.78, a P/E/G ratio of 0.39 and a beta of 0.90. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS 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 firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the previous year, the business earned $2.04 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction 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 transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares in the company, valued at $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 86,094 shares of company stock valued at $11,955,366 over the last ninety days. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSX shares. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a report on Tuesday. Wall Street Zen lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. TD Cowen lifted their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Raymond James Financial decreased their target price on shares of Phillips 66 from $169.00 to $160.00 and set an “outperform” rating for the company in a research report on Monday, December 22nd. Finally, Scotiabank reissued a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $150.41.

Phillips 66 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.