Phillips 66 $PSX Position Trimmed by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. trimmed its stake in Phillips 66 (NYSE:PSX) by 28.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,549 shares of the oil and gas company’s stock after selling 7,463 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Phillips 66 were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in shares of Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Woodline Partners LP grew its stake in Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after purchasing an additional 10,089 shares in the last quarter. Perigon Wealth Management LLC increased its position in Phillips 66 by 14.5% in the 2nd quarter. Perigon Wealth Management LLC now owns 3,723 shares of the oil and gas company’s stock worth $444,000 after purchasing an additional 471 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in shares of Phillips 66 by 0.3% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 248,902 shares of the oil and gas company’s stock worth $29,694,000 after purchasing an additional 833 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Phillips 66 by 114.7% during the 2nd quarter. Sound Income Strategies LLC now owns 1,595 shares of the oil and gas company’s stock valued at $190,000 after buying an additional 852 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president owned 30,193 shares in the company, valued at approximately $4,377,985. This represents a 12.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,094 shares of company stock valued at $11,955,366 over the last three months. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Down 0.8%

Shares of PSX stock opened at $140.42 on Tuesday. The firm has a market capitalization of $56.58 billion, a P/E ratio of 38.37, a price-to-earnings-growth ratio of 0.40 and a beta of 0.90. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $146.88. The firm’s fifty day simple moving average is $136.20 and its 200 day simple moving average is $132.49. 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 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period last year, the business posted $2.04 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PSX. Jefferies Financial Group increased their price objective on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Wolfe Research boosted their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, December 5th. Mizuho increased their price target on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $153.53.

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.