National Wealth Management Group LLC Acquires Shares of 3,590 Phillips 66 $PSX

National Wealth Management Group LLC bought a new position in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,590 shares of the oil and gas company’s stock, valued at approximately $488,000.

Several other hedge funds also recently made changes to their positions in the company. Heck Capital Advisors LLC boosted its position in Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after buying an additional 75 shares during the period. Magnus Financial Group LLC raised its stake in shares of Phillips 66 by 2.5% during the third quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock valued at $430,000 after acquiring an additional 77 shares during the last quarter. Hemington Wealth Management boosted its holdings in shares of Phillips 66 by 15.7% during the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock worth $78,000 after purchasing an additional 78 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of Phillips 66 by 1.9% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,297 shares of the oil and gas company’s stock worth $584,000 after purchasing an additional 79 shares during the last quarter. Finally, CWC Advisors LLC. increased its holdings in Phillips 66 by 0.6% during the 3rd quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock valued at $1,816,000 after purchasing an additional 80 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $145.00, for a total transaction of $637,130.00. Following the completion of the sale, the executive vice president owned 30,193 shares in the company, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 86,094 shares of company stock valued at $11,955,366 in the last three months. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $141.51 on Monday. The business’s fifty day moving average is $136.13 and its 200 day moving average is $132.45. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The stock has a market cap of $57.02 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 0.40 and a beta of 0.90. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $146.88.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter last year, the firm posted $2.04 earnings per share. Research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PSX shares. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Mizuho upped their target price on Phillips 66 from $150.00 to $152.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Raymond James Financial raised their price target on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $153.53.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.