Investors Research Corp Buys Shares of 1,522 Phillips 66 (PSX)
Investors Research Corp bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,522 shares of the oil and gas company’s stock, valued at approximately $145,000.
A number of other large investors have also made changes to their positions in PSX. Winslow Evans & Crocker Inc. raised its holdings in Phillips 66 by 2.5% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 4,186 shares of the oil and gas company’s stock valued at $400,000 after acquiring an additional 104 shares in the last quarter. Torray LLC raised its holdings in Phillips 66 by 0.6% in the 4th quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock valued at $1,461,000 after acquiring an additional 106 shares in the last quarter. Pflug Koory LLC raised its holdings in Phillips 66 by 3.2% in the 4th quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 110 shares in the last quarter. Coastline Trust Co raised its holdings in Phillips 66 by 0.7% in the 4th quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock valued at $1,395,000 after acquiring an additional 111 shares in the last quarter. Finally, First Foundation Advisors raised its holdings in Phillips 66 by 2.1% in the 4th quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock valued at $462,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 71.42% of the company’s stock.
In other news, Chairman Greg C. Garland sold 42,728 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.13% of the company’s stock.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.76 by $2.11. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. The business had revenue of $29.84 billion during the quarter, compared to analysts’ expectations of $35.51 billion. During the same period in the prior year, the firm posted $1.07 EPS. As a group, equities research analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.
PSX has been the subject of several recent research reports. Raymond James cut their price target on Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Monday, December 31st. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Citigroup upped their price target on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Finally, Argus cut their price target on Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $120.18.
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About Phillips 66
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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