Kovack Advisors Inc. Reduces Stake in Phillips 66 (NYSE:PSX)

Kovack Advisors Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,584 shares of the oil and gas company’s stock after selling 255 shares during the quarter. Kovack Advisors Inc.’s holdings in Phillips 66 were worth $749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Financial Sense Advisors Inc. raised its holdings in Phillips 66 by 1.3% in the first quarter. Financial Sense Advisors Inc. now owns 6,700 shares of the oil and gas company’s stock valued at $1,094,000 after acquiring an additional 87 shares in the last quarter. Norden Group LLC lifted its position in shares of Phillips 66 by 2,848.4% in the first quarter. Norden Group LLC now owns 63,716 shares of the oil and gas company’s stock worth $10,409,000 after purchasing an additional 61,555 shares in the last quarter. Community Bank & Trust Waco Texas grew its position in Phillips 66 by 5.0% in the first quarter. Community Bank & Trust Waco Texas now owns 32,172 shares of the oil and gas company’s stock worth $5,255,000 after acquiring an additional 1,529 shares in the last quarter. Arvest Investments Inc. boosted its holdings in shares of Phillips 66 by 86.9% during the 1st quarter. Arvest Investments Inc. now owns 7,198 shares of the oil and gas company’s stock worth $1,176,000 after buying an additional 3,346 shares during the period. Finally, Wallington Asset Management LLC boosted its holdings in Phillips 66 by 1.5% in the 1st quarter. Wallington Asset Management LLC now owns 128,249 shares of the oil and gas company’s stock valued at $20,948,000 after purchasing an additional 1,877 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on 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 directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.1 %

PSX stock traded down $0.10 during midday trading 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. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm has a market cap of $59.51 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. The business has a 50-day moving average of $142.22 and a two-hundred day moving average of $144.98. Phillips 66 has a 52-week low of $94.51 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period last year, the business earned $4.21 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Bank of America raised their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Mizuho lowered their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Raymond James lowered their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. TD Cowen lowered their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $157.07.

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.