Phillips 66 $PSX Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in Phillips 66 (NYSE:PSX) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,172,158 shares of the oil and gas company’s stock after buying an additional 160,407 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Phillips 66 were worth $159,437,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its holdings in shares of Phillips 66 by 1.7% in the 3rd quarter. Maryland State Retirement & Pension System now owns 20,151 shares of the oil and gas company’s stock worth $2,741,000 after acquiring an additional 337 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Phillips 66 by 1.9% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 30,676 shares of the oil and gas company’s stock valued at $4,173,000 after purchasing an additional 571 shares during the period. Financial Management Network Inc. bought a new position in Phillips 66 in the 3rd quarter worth about $203,000. Evergreen Capital Management LLC raised its holdings in shares of Phillips 66 by 10.6% during the third quarter. Evergreen Capital Management LLC now owns 4,958 shares of the oil and gas company’s stock valued at $674,000 after buying an additional 475 shares during the last quarter. Finally, First National Advisers LLC increased its position in Phillips 66 by 49.3% in the 3rd quarter. First National Advisers LLC now owns 17,028 shares of the oil and gas company’s stock valued at $2,316,000 after acquiring an additional 5,621 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Piper Sandler set a $153.00 price target on Phillips 66 in a research report on Monday, January 12th. UBS Group reiterated a “buy” rating on shares of Phillips 66 in a research report on Tuesday, January 6th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Citigroup upped their price target on shares of Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $150.41.

Phillips 66 Stock Performance

PSX opened at $138.27 on Tuesday. 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 firm has a market cap of $55.71 billion, a PE ratio of 37.78, a P/E/G ratio of 0.38 and a beta of 0.90. The business has a fifty day simple moving average of $136.07 and a 200-day simple moving average of $132.10. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $145.68.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the prior year, the business posted $2.04 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $145.00, for a total transaction of $637,130.00. Following the sale, the executive vice president directly owned 30,193 shares in the company, valued at approximately $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 86,094 shares of company stock worth $11,955,366 over the last 90 days. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.