Redmont Wealth Advisors LLC Acquires Shares of 174 Phillips 66 (NYSE:PSX)

Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 174 shares of the oil and gas company’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV raised its position in shares of Phillips 66 by 2.8% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 18,741 shares of the oil and gas company’s stock worth $3,061,000 after purchasing an additional 513 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Phillips 66 by 4.5% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,179,053 shares of the oil and gas company’s stock worth $192,587,000 after purchasing an additional 51,075 shares during the period. MV Capital Management Inc. raised its position in shares of Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in shares of Phillips 66 by 311.0% during the 1st quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 31,877 shares of the oil and gas company’s stock worth $5,207,000 after purchasing an additional 24,121 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its position in shares of Phillips 66 by 2.5% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 38,243 shares of the oil and gas company’s stock worth $6,247,000 after purchasing an additional 940 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on PSX shares. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Raymond James lowered their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Finally, Barclays lowered their target price on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $157.07.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $140.55 on Thursday. The firm has a market cap of $59.59 billion, a PE ratio of 10.81, a P/E/G ratio of 2.13 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $142.22 and a 200-day simple moving average of $144.98. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last released 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). The company had revenue of $36.44 billion for 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 business earned $4.21 earnings per share. As a group, equities analysts predict that Phillips 66 will post 10.99 EPS for the current fiscal year.

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.