Hexagon Capital Partners LLC Sells 93 Shares of Phillips 66 (NYSE:PSX)

Hexagon Capital Partners LLC cut its stake in Phillips 66 (NYSE:PSX) by 5.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,641 shares of the oil and gas company’s stock after selling 93 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Phillips 66 were worth $216,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 during the second quarter valued at about $3,596,000. Duality Advisers LP purchased a new stake in Phillips 66 in the 1st quarter worth approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 1.3 %

NYSE PSX opened at $136.41 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The stock has a market cap of $57.10 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 5.48 and a beta of 1.33. The stock has a 50 day simple moving average of $133.28 and a two-hundred day simple moving average of $141.78.

Phillips 66 (NYSE:PSX) last announced 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. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.87 EPS. On average, analysts forecast that Phillips 66 will post 8.19 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on PSX shares. Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $151.21.

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.