Truist Financial Corp Purchases 75,849 Shares of Phillips 66 $PSX

Truist Financial Corp raised its holdings in shares of Phillips 66 (NYSE:PSX) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 664,499 shares of the oil and gas company’s stock after acquiring an additional 75,849 shares during the period. Truist Financial Corp owned about 0.16% of Phillips 66 worth $90,385,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Evolution Wealth Management Inc. purchased a new position in Phillips 66 in the 2nd quarter worth $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Phillips 66 during the second quarter valued at about $32,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Phillips 66 during the second quarter valued at about $38,000. Operose Advisors LLC grew its stake 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. Finally, Traub Capital Management LLC purchased a new position in shares of Phillips 66 in the second quarter worth about $43,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $142.30 on Thursday. The business has a 50 day moving average of $136.39 and a 200 day moving average of $132.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $146.88. The company has a market cap of $57.33 billion, a PE ratio of 38.88, a P/E/G ratio of 0.40 and a beta of 0.90. 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 data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the previous year, the firm earned $2.04 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 86,094 shares of company stock valued at $11,955,366. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PSX shares. Jefferies Financial Group increased their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Thursday, January 22nd. Finally, Wolfe Research increased their price target on shares of Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, December 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $153.53.

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.