Cerity Partners LLC Grows Stock Holdings in Phillips 66 $PSX

Cerity Partners LLC increased its position in Phillips 66 (NYSE:PSX) by 54.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 116,022 shares of the oil and gas company’s stock after buying an additional 40,960 shares during the period. Cerity Partners LLC’s holdings in Phillips 66 were worth $15,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Evolution Wealth Management Inc. purchased a new position in Phillips 66 in the 2nd quarter worth approximately $25,000. Wolff Wiese Magana LLC raised its position in shares of Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 in the second quarter worth $32,000. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Finally, Nova Wealth Management Inc. bought a new position in Phillips 66 during the first quarter valued at approximately $37,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 1.4%

Shares of PSX stock opened at $142.24 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $145.68. The company’s 50-day moving average price is $135.86 and its 200-day moving average price is $131.23. The stock has a market cap of $57.31 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 0.38 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last released 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 business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the prior year, the business posted $2.04 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the completion of the transaction, the executive vice president directly owned 30,193 shares in the company, valued at $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 86,094 shares of company stock valued at $11,955,366. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Jefferies Financial Group boosted their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Wells Fargo & Company increased their price objective on Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Mizuho upped their price target on shares of Phillips 66 from $145.00 to $150.00 and gave the stock a “neutral” rating in a research report on Friday, December 12th. BMO Capital Markets lifted their target price on Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. Finally, Morgan Stanley increased their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $146.88.

About Phillips 66

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.