FCG Investment Co Purchases 2,427 Shares of Phillips 66 (NYSE:PSX)

FCG Investment Co grew its position in shares of Phillips 66 (NYSE:PSX) by 36.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 9,122 shares of the oil and gas company’s stock after acquiring an additional 2,427 shares during the quarter. Phillips 66 comprises approximately 1.2% of FCG Investment Co’s holdings, making the stock its 20th largest holding. FCG Investment Co’s holdings in Phillips 66 were worth $1,490,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Lazard Asset Management LLC lifted its holdings in shares of Phillips 66 by 1,562.6% in the 3rd quarter. Lazard Asset Management LLC now owns 3,774 shares of the oil and gas company’s stock valued at $452,000 after acquiring an additional 3,547 shares during the last quarter. Axxcess Wealth Management LLC lifted its stake in shares of Phillips 66 by 260.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 13,050 shares of the oil and gas company’s stock valued at $1,568,000 after purchasing an additional 9,431 shares during the last quarter. Ellerson Group Inc. ADV boosted its holdings in shares of Phillips 66 by 0.7% in the 3rd quarter. Ellerson Group Inc. ADV now owns 29,152 shares of the oil and gas company’s stock worth $3,503,000 after purchasing an additional 197 shares during the period. Lido Advisors LLC increased its position in shares of Phillips 66 by 7.2% during the 3rd quarter. Lido Advisors LLC now owns 12,542 shares of the oil and gas company’s stock valued at $1,507,000 after purchasing an additional 845 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in Phillips 66 by 145.6% during the 3rd quarter. Schroder Investment Management Group now owns 195,128 shares of the oil and gas company’s stock valued at $23,445,000 after buying an additional 115,673 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 0.1 %

Shares of PSX stock traded down $0.10 on Thursday, hitting $140.37. The stock had a trading volume of 1,081,569 shares, compared to its average volume of 2,593,537. Phillips 66 has a one year low of $94.51 and a one year high of $174.08. The business has a 50 day moving average price of $141.87 and a 200 day moving average price of $144.95. The company has a market cap of $59.51 billion, a PE ratio of 10.80, a P/E/G ratio of 2.13 and a beta of 1.34. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

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

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PSX. TD Cowen lowered their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday, June 21st. 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. Mizuho cut their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.07.

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.