Oppenheimer Asset Management Inc. Increases Stock Holdings in Phillips 66 $PSX

Oppenheimer Asset Management Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,472 shares of the oil and gas company’s stock after acquiring an additional 3,426 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Phillips 66 were worth $13,258,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. RFG Advisory LLC boosted its stake in shares of Phillips 66 by 84.4% during the 3rd quarter. RFG Advisory LLC now owns 12,963 shares of the oil and gas company’s stock valued at $1,763,000 after purchasing an additional 5,933 shares in the last quarter. Roman Butler Fullerton & Co. lifted its holdings in Phillips 66 by 10.4% in the third quarter. Roman Butler Fullerton & Co. now owns 2,442 shares of the oil and gas company’s stock worth $337,000 after buying an additional 231 shares during the period. German American Bancorp Inc. boosted its position in Phillips 66 by 3.2% during the 3rd quarter. German American Bancorp Inc. now owns 28,752 shares of the oil and gas company’s stock valued at $3,911,000 after acquiring an additional 900 shares in the last quarter. SPC Financial Inc. grew its holdings in shares of Phillips 66 by 10.2% during the 3rd quarter. SPC Financial Inc. now owns 2,462 shares of the oil and gas company’s stock worth $335,000 after acquiring an additional 227 shares during the period. Finally, Azzad Asset Management Inc. ADV raised its position in shares of Phillips 66 by 3.5% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 22,188 shares of the oil and gas company’s stock worth $3,018,000 after acquiring an additional 746 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSX shares. Mizuho upped their price target on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Piper Sandler upped their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research report on Thursday. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 16th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Finally, Scotiabank restated a “sector perform” rating and issued a $140.00 price objective on shares of Phillips 66 in a report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Hold” and an average price target of $157.18.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of Phillips 66 stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,488 shares of company stock valued at $8,474,466 in the last 90 days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.2%

Shares of NYSE PSX opened at $157.47 on Tuesday. The firm’s 50 day moving average price is $138.83 and its 200-day moving average price is $134.01. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $159.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The company has a market cap of $63.45 billion, a PE ratio of 14.55, a P/E/G ratio of 0.58 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same quarter last year, the firm earned ($0.15) earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

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.