Carret Asset Management LLC Sells 185 Shares of Phillips 66 (NYSE:PSX)

Carret Asset Management LLC reduced its position in Phillips 66 (NYSE:PSX) by 1.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,263 shares of the oil and gas company’s stock after selling 185 shares during the period. Carret Asset Management LLC’s holdings in Phillips 66 were worth $2,820,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in Phillips 66 by 1,562.6% in the third quarter. Lazard Asset Management LLC now owns 3,774 shares of the oil and gas company’s stock worth $452,000 after purchasing an additional 3,547 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Phillips 66 by 6.9% in the third quarter. Truist Financial Corp now owns 532,241 shares of the oil and gas company’s stock worth $63,949,000 after acquiring an additional 34,573 shares during the period. Axxcess Wealth Management LLC increased its position in Phillips 66 by 260.6% during the third quarter. Axxcess Wealth Management LLC now owns 13,050 shares of the oil and gas company’s stock valued at $1,568,000 after acquiring an additional 9,431 shares during the last quarter. Ellerson Group Inc. ADV lifted its holdings in Phillips 66 by 0.7% in the third quarter. Ellerson Group Inc. ADV now owns 29,152 shares of the oil and gas company’s stock valued at $3,503,000 after acquiring an additional 197 shares during the period. Finally, Lido Advisors LLC boosted its position in Phillips 66 by 7.2% in the third quarter. Lido Advisors LLC now owns 12,542 shares of the oil and gas company’s stock worth $1,507,000 after purchasing an additional 845 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction that occurred 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 sale, the executive vice president now 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 accessible through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PSX shares. The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Finally, Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $157.07.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $0.10 on Wednesday, hitting $140.37. 1,080,759 shares of the company traded hands, compared to its average volume of 2,769,148. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The business has a 50-day simple moving average of $142.22 and a 200 day simple moving average of $144.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market capitalization of $59.51 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced 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). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the firm posted $4.21 earnings per share. Research analysts expect that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Phillips 66 Company 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.