SeaCrest Wealth Management LLC Lowers Position in Phillips 66 (NYSE:PSX)

SeaCrest Wealth Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 9.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,965 shares of the oil and gas company’s stock after selling 799 shares during the period. SeaCrest Wealth Management LLC’s holdings in Phillips 66 were worth $1,301,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Morgan Stanley increased its holdings in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after buying an additional 138,646 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $559,435,000. Boston Partners boosted its stake in shares of Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Phillips 66 by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,702,734 shares of the oil and gas company’s stock valued at $492,974,000 after purchasing an additional 315,889 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.3 %

Shares of NYSE:PSX opened at $140.47 on Wednesday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market cap of $59.55 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 2.12 and a beta of 1.34. The stock’s 50-day moving average price is $142.59 and its two-hundred day moving average price is $144.90. Phillips 66 has a 12-month low of $94.51 and a 12-month high of $174.08.

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 for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 earnings per share. On average, research analysts forecast that Phillips 66 will post 10.99 EPS for the current year.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Mizuho cut their target price 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 lowered their price target on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, Raymond James cut their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.07.

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.