Koshinski Asset Management Inc. Buys 11,120 Shares of Phillips 66 (PSX)
Koshinski Asset Management Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 256.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,459 shares of the oil and gas company’s stock after buying an additional 11,120 shares during the quarter. Koshinski Asset Management Inc.’s holdings in Phillips 66 were worth $1,564,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Phillips 66 by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 31,826,155 shares of the oil and gas company’s stock valued at $2,631,704,000 after buying an additional 130,653 shares in the last quarter. BlackRock Inc. lifted its stake in Phillips 66 by 0.7% in the 2nd quarter. BlackRock Inc. now owns 28,025,035 shares of the oil and gas company’s stock valued at $2,317,389,000 after buying an additional 203,138 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Phillips 66 by 0.9% in the 2nd quarter. Wells Fargo & Company MN now owns 8,422,039 shares of the oil and gas company’s stock valued at $696,418,000 after buying an additional 71,098 shares in the last quarter. FMR LLC lifted its stake in Phillips 66 by 37.1% in the 2nd quarter. FMR LLC now owns 7,520,743 shares of the oil and gas company’s stock valued at $621,890,000 after buying an additional 2,036,258 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Phillips 66 by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock valued at $626,438,000 after buying an additional 422,652 shares in the last quarter. 70.12% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the company. Barclays set a $95.00 price target on Phillips 66 and gave the company an “equal weight” rating in a report on Tuesday, October 10th. Scotiabank reiterated a “buy” rating and issued a $112.00 price target on shares of Phillips 66 in a report on Wednesday, January 10th. Vetr upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price target for the company in a report on Monday, October 16th. Cowen reiterated a “buy” rating and issued a $101.00 price target on shares of Phillips 66 in a report on Tuesday, October 17th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $98.00 price target on shares of Phillips 66 in a report on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $96.66.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $26.21 billion during the quarter, compared to the consensus estimate of $29.94 billion. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. During the same period in the prior year, the firm posted $1.05 EPS. equities analysts forecast that Phillips 66 will post 4.43 earnings per share for the current year.
Phillips 66 announced that its board has approved a share repurchase program on Monday, October 9th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total transaction of $270,675.00. Following the completion of the sale, the vice president now directly owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.50% of the company’s stock.
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Phillips 66 Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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