Cullinan Associates Inc. Boosts Stock Position in Phillips 66 (NYSE:PSX)

Cullinan Associates Inc. increased its stake in Phillips 66 (NYSE:PSX) by 31.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,139 shares of the oil and gas company’s stock after buying an additional 2,400 shares during the period. Cullinan Associates Inc.’s holdings in Phillips 66 were worth $1,656,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its stake in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth $10,402,000. TIAA Trust National Association grew its position in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after buying an additional 10,536 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after acquiring an additional 36,116 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. TD Cowen cut their price target on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. The Goldman Sachs Group raised their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Raymond James reduced their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.07.

Phillips 66 Trading Down 0.3 %

Shares of PSX stock opened at $140.47 on Wednesday. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock’s fifty day moving average is $142.59 and its two-hundred day moving average is $144.90. The firm has a market capitalization of $59.55 billion, a P/E ratio of 10.81, a PEG ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company posted $4.21 EPS. Research analysts expect that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.