Virginia Wealth Management Group Inc. Acquires 5,604 Shares of Phillips 66 (NYSE:PSX)

Virginia Wealth Management Group Inc. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 22.9% in the third quarter, Holdings Channel.com reports. The fund owned 30,067 shares of the oil and gas company’s stock after buying an additional 5,604 shares during the quarter. Phillips 66 comprises about 2.5% of Virginia Wealth Management Group Inc.’s portfolio, making the stock its 17th largest holding. Virginia Wealth Management Group Inc.’s holdings in Phillips 66 were worth $3,952,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Wellington Management Group LLP raised its position in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. Boston Partners grew its stake in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. lifted its position in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Piper Sandler upped their price target on Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays cut their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.21.

Phillips 66 Trading Up 0.1 %

Shares of PSX stock traded up $0.17 during mid-day trading on Friday, hitting $136.59. 107,331 shares of the company’s stock were exchanged, compared to its average volume of 2,701,770. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The stock has a 50-day simple moving average of $133.19 and a two-hundred day simple moving average of $141.75. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The stock has a market cap of $57.91 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the firm earned $3.87 earnings per share. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts expect that Phillips 66 will post 8.19 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.