Good Life Advisors LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 6.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,827 shares of the oil and gas company’s stock after selling 346 shares during the quarter. Good Life Advisors LLC’s holdings in Phillips 66 were worth $537,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Hartford Investment Management Co. lifted its holdings in shares of Phillips 66 by 7.5% in the third quarter. Hartford Investment Management Co. now owns 71,887 shares of the oil and gas company’s stock valued at $7,361,000 after buying an additional 5,010 shares during the period. CastleArk Alternatives LLC lifted its holdings in shares of Phillips 66 by 183.3% in the third quarter. CastleArk Alternatives LLC now owns 37,400 shares of the oil and gas company’s stock valued at $3,830,000 after buying an additional 24,200 shares during the period. World Asset Management Inc lifted its holdings in shares of Phillips 66 by 8.7% in the third quarter. World Asset Management Inc now owns 42,252 shares of the oil and gas company’s stock valued at $4,327,000 after buying an additional 3,395 shares during the period. BBVA USA Bancshares Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at $4,248,000. Finally, Putnam Investments LLC lifted its holdings in shares of Phillips 66 by 1.3% in the second quarter. Putnam Investments LLC now owns 383,880 shares of the oil and gas company’s stock valued at $35,909,000 after buying an additional 5,044 shares during the period. Institutional investors own 68.34% of the company’s stock.
PSX has been the subject of several research analyst reports. Cowen upped their price objective on Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. ValuEngine upgraded Phillips 66 from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 8th. Morgan Stanley cut their price objective on Phillips 66 from $125.00 to $120.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup cut their price objective on Phillips 66 from $135.00 to $128.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays began coverage on Phillips 66 in a report on Tuesday. They set an “overweight” rating and a $122.00 target price for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $122.17.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, beating the consensus estimate of $2.60 by $0.51. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. The business had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. During the same period in the prior year, the business posted $3.10 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 8.61 EPS for the current year.
In related news, VP Chukwuemeka A. Oyolu sold 464 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $119.53, for a total transaction of $55,461.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is currently owned by insiders.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined products to market; provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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