Boston Private Wealth LLC Sells 2,300 Shares of Phillips 66 (NYSE:PSX)

Boston Private Wealth LLC decreased its position in Phillips 66 (NYSE:PSX) by 39.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,578 shares of the oil and gas company’s stock after selling 2,300 shares during the quarter. Boston Private Wealth LLC’s holdings in Phillips 66 were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSX. Commerce Bank grew its stake in Phillips 66 by 7.0% during the third quarter. Commerce Bank now owns 55,009 shares of the oil and gas company’s stock worth $3,852,000 after buying an additional 3,583 shares during the last quarter. Fundamentun LLC grew its position in Phillips 66 by 24.2% during the 3rd quarter. Fundamentun LLC now owns 27,059 shares of the oil and gas company’s stock worth $1,895,000 after acquiring an additional 5,266 shares during the last quarter. SCP Investment LP increased its holdings in Phillips 66 by 21.0% during the 2nd quarter. SCP Investment LP now owns 3,000 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 520 shares in the last quarter. Raymond James Trust N.A. raised its position in Phillips 66 by 1.9% in the 3rd quarter. Raymond James Trust N.A. now owns 90,123 shares of the oil and gas company’s stock valued at $6,312,000 after purchasing an additional 1,720 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in Phillips 66 by 6.9% in the second quarter. Natixis Advisors L.P. now owns 142,922 shares of the oil and gas company’s stock worth $12,266,000 after purchasing an additional 9,229 shares in the last quarter. Institutional investors and hedge funds own 68.17% of the company’s stock.

In other Phillips 66 news, VP Joseph Scott Pruitt sold 2,250 shares of the company’s stock in a transaction that occurred on Thursday, December 23rd. The shares were sold at an average price of $72.62, for a total value of $163,395.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.74% of the stock is currently owned by insiders.

NYSE PSX opened at $88.58 on Friday. Phillips 66 has a 12 month low of $63.19 and a 12 month high of $94.34. The stock has a 50-day simple moving average of $74.76 and a 200 day simple moving average of $74.80. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $38.81 billion, a PE ratio of -77.03, a P/E/G ratio of 0.62 and a beta of 1.66.

Phillips 66 (NYSE:PSX) last posted its earnings results on Thursday, October 28th. The oil and gas company reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $1.23. The company had revenue of $31.47 billion during the quarter, compared to analyst estimates of $24.33 billion. Phillips 66 had a positive return on equity of 3.44% and a negative net margin of 0.50%. During the same period in the previous year, the company earned ($0.01) EPS. As a group, sell-side analysts predict that Phillips 66 will post 4.69 earnings per share for the current fiscal year.

A number of research firms recently issued reports on PSX. Raymond James lifted their price target on Phillips 66 from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Monday, November 1st. The Goldman Sachs Group raised shares of Phillips 66 from a “buy” rating to a “conviction-buy” rating in a research note on Wednesday, November 3rd. Citigroup increased their price target on shares of Phillips 66 from $75.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday, October 6th. Piper Sandler raised shares of Phillips 66 from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $87.00 in a report on Wednesday, October 6th. Finally, Royal Bank of Canada upped their price objective on Phillips 66 from $94.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, November 2nd. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $89.80.

About Phillips 66

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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

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