SG Americas Securities LLC Sells 138,507 Shares of Phillips 66 $PSX

SG Americas Securities LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 93.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,289 shares of the oil and gas company’s stock after selling 138,507 shares during the quarter. SG Americas Securities LLC’s holdings in Phillips 66 were worth $1,400,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Norges Bank acquired a new position in Phillips 66 in the 2nd quarter valued at about $523,755,000. Elliott Investment Management L.P. grew its stake in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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 valued at $1,226,815,000 after acquiring an additional 1,532,967 shares during the period. Finally, Valeo Financial Advisors LLC lifted its position in Phillips 66 by 9,530.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after acquiring an additional 1,431,450 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Evercore ISI increased their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Cowen reissued a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, UBS Group reiterated a “buy” rating on shares of Phillips 66 in a research note on Tuesday, January 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $150.41.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 86,094 shares of company stock valued at $11,955,366. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

PSX stock opened at $138.27 on Friday. The company’s 50-day moving average price is $136.07 and its two-hundred day moving average price is $131.92. The firm has a market cap of $55.71 billion, a P/E ratio of 37.78, a P/E/G ratio of 0.39 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 has a 12 month low of $91.01 and a 12 month high of $145.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the prior year, the firm posted $2.04 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Company 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.