Birch Financial Group LLC Buys Shares of 16,134 Phillips 66 $PSX

Birch Financial Group LLC bought a new position in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 16,134 shares of the oil and gas company’s stock, valued at approximately $2,195,000. Phillips 66 accounts for 1.3% of Birch Financial Group LLC’s holdings, making the stock its 19th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. Elliott Investment Management L.P. increased its stake in shares of Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock worth $2,296,644,000 after acquiring an additional 3,526,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its position in Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after purchasing an additional 10,000 shares during the period. Vanguard Group Inc. raised its stake in shares of Phillips 66 by 14.8% during the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after buying an additional 5,978,841 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Phillips 66 in the 2nd quarter valued at about $4,952,000. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Phillips 66 by 81.1% in the second quarter. Thrivent Financial for Lutherans now owns 42,205 shares of the oil and gas company’s stock worth $5,035,000 after buying an additional 18,895 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Friday, November 7th. The shares were 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 $12,388,398. The trade was a 25.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares of the company’s stock, valued at $4,377,985. The trade was a 12.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 86,094 shares of company stock worth $11,955,366 over the last quarter. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. UBS Group reiterated a “buy” rating on shares of Phillips 66 in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Finally, BMO Capital Markets increased their target price on shares of Phillips 66 from $152.00 to $160.00 in a research note on Tuesday, November 11th. 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, the company currently has an average rating of “Hold” and an average price target of $150.41.

Phillips 66 Stock Down 0.3%

Shares of NYSE PSX opened at $141.51 on Friday. The firm has a market cap of $57.02 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 0.41 and a beta of 0.90. The company’s 50-day simple moving average is $136.13 and its 200-day simple moving average is $132.42. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $146.88.

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 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 firm had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. Equities analysts predict 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.