Lake Street Private Wealth LLC Has $1.07 Million Stock Position in Phillips 66 (NYSE:PSX)

Lake Street Private Wealth LLC cut its stake in Phillips 66 (NYSE:PSX) by 10.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,539 shares of the oil and gas company’s stock after selling 784 shares during the period. Lake Street Private Wealth LLC’s holdings in Phillips 66 were worth $1,068,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter worth $28,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth about $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $31,000. Rise Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $40,000. Finally, Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the fourth quarter worth about $33,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $140.55 on Thursday. The stock has a 50-day moving average price of $142.22 and a two-hundred day moving average price of $144.98. Phillips 66 has a 1 year low of $94.51 and a 1 year high of $174.08. The stock has a market cap of $59.59 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

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

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PSX. Bank of America lifted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Mizuho cut their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, June 20th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.