Azzad Asset Management Inc. ADV Purchases 513 Shares of Phillips 66 (NYSE:PSX)

Azzad Asset Management Inc. ADV increased its holdings in Phillips 66 (NYSE:PSX) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,741 shares of the oil and gas company’s stock after purchasing an additional 513 shares during the period. Azzad Asset Management Inc. ADV’s holdings in Phillips 66 were worth $3,061,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Phillips 66 in the fourth quarter valued at $559,435,000. Boston Partners grew its position in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $254,336,000. Wellington Management Group LLP raised its position in Phillips 66 by 20.3% during the fourth 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 during the period. Finally, Public Employees Retirement Association of Colorado lifted its stake in shares of Phillips 66 by 4,556.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after purchasing an additional 932,552 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Barclays cut their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a report on Monday. Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. reduced their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.07.

Phillips 66 Stock Down 0.4 %

Shares of PSX stock traded down $0.63 during mid-day trading on Wednesday, hitting $139.84. The stock had a trading volume of 483,163 shares, compared to its average volume of 2,763,726. Phillips 66 has a 12-month low of $94.51 and a 12-month high of $174.08. The firm has a market capitalization of $59.29 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34. The firm’s 50-day moving average is $142.22 and its two-hundred day moving average is $144.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the company posted $4.21 earnings per share. On average, analysts predict that Phillips 66 will post 10.99 earnings per share 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.