Phillips 66 $PSX Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its stake in Phillips 66 (NYSE:PSX) by 26.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 137,188 shares of the oil and gas company’s stock after selling 48,770 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Phillips 66 were worth $18,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Elliott Investment Management L.P. raised its position 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 buying an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after acquiring an additional 1,532,967 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after acquiring an additional 537,245 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Phillips 66 in the second quarter valued at about $523,755,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Barclays increased their price target on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a report on Monday, January 12th. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Raymond James Financial reduced their price target on Phillips 66 from $169.00 to $160.00 and set an “outperform” rating for the company in a report on Monday, December 22nd. Scotiabank restated a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research note on Friday, January 16th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has an average rating of “Hold” and an average price target of $150.41.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s 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 completion of the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the completion of the sale, the executive vice president owned 30,193 shares in the company, valued at $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 86,094 shares of company stock worth $11,955,366 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $141.98 on Friday. The firm has a market capitalization of $57.21 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. 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’s 50 day simple moving average is $136.14 and its 200-day simple moving average is $132.32. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $145.68.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The firm 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 period last year, the business posted $2.04 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

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.