Phillips 66 (NYSE:PSX) Holdings Raised by Cadinha & Co. LLC

Cadinha & Co. LLC raised its stake in shares of Phillips 66 (NYSE:PSX) by 24.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,080 shares of the oil and gas company’s stock after purchasing an additional 800 shares during the period. Cadinha & Co. LLC’s holdings in Phillips 66 were worth $536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Madison Park Capital Advisors LLC raised its stake in Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the period. MV Capital Management Inc. grew its position in shares of Phillips 66 by 9.6% in the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC raised its holdings in Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the period. Catalyst Financial Partners LLC lifted its stake in Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 74 shares in the last quarter. Finally, Claro Advisors LLC increased its position in shares of Phillips 66 by 4.5% during the first quarter. Claro Advisors LLC now owns 1,738 shares of the oil and gas company’s stock worth $284,000 after acquiring an additional 75 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE:PSX traded up $1.48 during mid-day trading on Thursday, hitting $136.20. The stock had a trading volume of 145,889 shares, compared to its average volume of 2,708,693. The company’s 50 day simple moving average is $133.28 and its 200 day simple moving average is $141.78. The stock has a market cap of $57.74 billion, a price-to-earnings ratio of 10.36, a PEG ratio of 5.46 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.87 EPS. On average, equities research analysts forecast that Phillips 66 will post 8.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research reports. Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler lifted their target price on Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.86.

Phillips 66 Company 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.