Meeder Asset Management Inc. Boosts Holdings in Phillips 66 (PSX)

Meeder Asset Management Inc. raised its position in shares of Phillips 66 (NYSE:PSX) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 87,291 shares of the oil and gas company’s stock after acquiring an additional 3,667 shares during the period. Meeder Asset Management Inc.’s holdings in Phillips 66 were worth $8,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. Torray LLC boosted its holdings in Phillips 66 by 0.6% in the fourth quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock valued at $1,461,000 after purchasing an additional 106 shares during the last quarter. Pflug Koory LLC boosted its holdings in Phillips 66 by 3.2% in the fourth quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 110 shares during the last quarter. Coastline Trust Co boosted its holdings in Phillips 66 by 0.7% in the fourth quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock valued at $1,395,000 after purchasing an additional 111 shares during the last quarter. First Foundation Advisors boosted its holdings in Phillips 66 by 2.1% in the fourth quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock valued at $462,000 after purchasing an additional 112 shares during the last quarter. Finally, Deane Retirement Strategies Inc. boosted its holdings in Phillips 66 by 0.6% in the first quarter. Deane Retirement Strategies Inc. now owns 18,423 shares of the oil and gas company’s stock valued at $1,754,000 after purchasing an additional 112 shares during the last quarter. 71.30% of the stock is owned by institutional investors.

In other Phillips 66 news, Chairman Greg C. Garland sold 42,728 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.13% of the company’s stock.

A number of brokerages recently commented on PSX. ValuEngine downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Financial Group downgraded Phillips 66 from a “buy” rating to a “hold” rating and increased their price target for the company from $105.00 to $107.00 in a report on Monday. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Piper Jaffray Companies reissued an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Finally, Argus reduced 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 issued a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $120.18.

NYSE PSX traded down $0.26 on Tuesday, hitting $95.98. 1,828,359 shares of the stock traded hands, compared to its average volume of 2,644,252. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The stock has a market capitalization of $44.15 billion, a P/E ratio of 8.20, a PEG ratio of 1.44 and a beta of 0.94. The company has a quick ratio of 1.08, a current ratio of 1.48 and a debt-to-equity ratio of 0.41.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $29.84 billion for the quarter, compared to analysts’ expectations of $35.51 billion. During the same quarter in the prior year, the firm posted $1.07 earnings per share. On average, analysts anticipate that Phillips 66 will post 7.95 EPS for the current year.

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Phillips 66 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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