Blue Trust Inc. Buys 2,016 Shares of Phillips 66 (NYSE:PSX)

Blue Trust Inc. raised its stake in Phillips 66 (NYSE:PSX) by 28.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,984 shares of the oil and gas company’s stock after purchasing an additional 2,016 shares during the period. Blue Trust Inc.’s holdings in Phillips 66 were worth $1,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Northwestern Mutual Wealth Management Co. increased its stake in Phillips 66 by 7.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 39,449 shares of the oil and gas company’s stock valued at $5,569,000 after purchasing an additional 2,596 shares in the last quarter. Regal Investment Advisors LLC increased its position in shares of Phillips 66 by 3.4% during the second quarter. Regal Investment Advisors LLC now owns 10,869 shares of the oil and gas company’s stock worth $1,534,000 after acquiring an additional 356 shares in the last quarter. Kimelman & Baird LLC bought a new stake in shares of Phillips 66 during the second quarter worth about $88,000. Advisory Alpha LLC increased its position in shares of Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 76 shares in the last quarter. Finally, New Century Financial Group LLC grew its position in Phillips 66 by 105.7% in the 2nd quarter. New Century Financial Group LLC now owns 4,521 shares of the oil and gas company’s stock worth $638,000 after purchasing an additional 2,323 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Barclays reduced their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Finally, UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.93.

Phillips 66 Stock Performance

Shares of PSX stock opened at $121.13 on Wednesday. The firm’s 50 day moving average is $121.46 and its 200 day moving average is $128.94. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $50.02 billion, a P/E ratio of 15.55, a PEG ratio of 3.78 and a beta of 1.38. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.41 earnings per share for the current year.

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.