New Century Financial Group LLC Sells 308 Shares of Phillips 66 (NYSE:PSX)

New Century Financial Group LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,198 shares of the oil and gas company’s stock after selling 308 shares during the period. New Century Financial Group LLC’s holdings in Phillips 66 were worth $359,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Norges Bank purchased a new stake in shares of Phillips 66 in the 4th quarter valued at about $559,435,000. Boston Partners lifted its position in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after purchasing an additional 3,494,878 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $254,336,000. Wellington Management Group LLP increased its holdings in shares of Phillips 66 by 20.3% in 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 buying an additional 1,842,226 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Phillips 66 by 4,556.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after buying an additional 932,552 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were 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 directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $140.37 on Friday. 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 company has a market cap of $59.51 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. Phillips 66 has a 12 month low of $94.51 and a 12 month high of $174.08. The company has a 50-day moving average price of $141.54 and a 200-day moving average price of $144.92.

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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the business posted $4.21 EPS. As a group, equities analysts anticipate that Phillips 66 will post 10.99 EPS for the current year.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Raymond James cut their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Scotiabank increased their price objective 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. Barclays dropped their target price on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.07.

About Phillips 66

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.