Phillips 66 (NYSE:PSX) Holdings Cut by Beacon Financial Group

Beacon Financial Group decreased its stake in shares of Phillips 66 (NYSE:PSX) by 90.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,229 shares of the oil and gas company’s stock after selling 91,618 shares during the period. Beacon Financial Group’s holdings in Phillips 66 were worth $1,035,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Motco raised its position in shares of Phillips 66 by 4.0% in the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 50 shares during the period. Ffcm LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $113,000. Bruderman Asset Management LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $112,000. FTB Advisors Inc. increased its stake in Phillips 66 by 112.9% during the 3rd quarter. FTB Advisors Inc. now owns 1,471 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 780 shares in the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new stake in Phillips 66 during the 2nd quarter worth approximately $127,000. Institutional investors and hedge funds own 70.12% of the company’s stock.

In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s stock in a transaction on Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the transaction, the vice president now owns 2,700 shares in the company, valued at $270,675. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.50% of the stock is currently owned by company insiders.

Shares of Phillips 66 (NYSE:PSX) opened at $102.08 on Thursday. Phillips 66 has a twelve month low of $75.14 and a twelve month high of $102.80. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $51,730.00, a price-to-earnings ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.24.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, October 27th. The oil and gas company reported $1.66 EPS for the quarter, topping the Zacks’ consensus estimate of $1.62 by $0.04. Phillips 66 had a return on equity of 7.58% and a net margin of 2.11%. The company had revenue of $26.21 billion for the quarter, compared to analysts’ expectations of $29.94 billion. During the same quarter last year, the business earned $1.05 earnings per share. research analysts forecast that Phillips 66 will post 4.5 EPS for the current fiscal year.

Phillips 66 declared that its board has initiated a share buyback plan on Monday, October 9th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

A number of analysts recently issued reports on the company. Scotiabank reissued a “buy” rating and set a $112.00 target price on shares of Phillips 66 in a research note on Wednesday. Credit Suisse Group started coverage on shares of Phillips 66 in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price target for the company. Howard Weil raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $86.00 to $98.00 in a research note on Thursday, September 28th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $98.00 price target on shares of Phillips 66 in a research note on Tuesday, September 26th. Finally, Vetr raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 target price for the company in a research note on Monday, October 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Hold” and a consensus price target of $96.66.

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Phillips 66 Profile

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.

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

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