Mediolanum International Funds Ltd Purchases 141,504 Shares of Phillips 66 $PSX

Mediolanum International Funds Ltd boosted its position in Phillips 66 (NYSE:PSX) by 879.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 157,596 shares of the oil and gas company’s stock after purchasing an additional 141,504 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Phillips 66 were worth $21,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC increased its position in Phillips 66 by 1.2% during the third quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock worth $833,000 after acquiring an additional 75 shares during the period. Welch & Forbes LLC grew its position in shares of Phillips 66 by 1.1% during the 3rd quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company’s stock worth $969,000 after purchasing an additional 76 shares in the last quarter. Magnus Financial Group LLC grew its position in shares of Phillips 66 by 2.5% during the 3rd quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock worth $430,000 after purchasing an additional 77 shares in the last quarter. Hemington Wealth Management raised its position in shares of Phillips 66 by 15.7% in the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock valued at $78,000 after buying an additional 78 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in shares of Phillips 66 by 1.9% in the third quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 4,297 shares of the oil and gas company’s stock valued at $584,000 after buying an additional 79 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $145.00, for a total value of $637,130.00. Following the sale, the executive vice president owned 30,193 shares in the company, valued at $4,377,985. This trade represents a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Brian Mandell sold 25,500 shares of the company’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 86,094 shares of company stock worth $11,955,366 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Citigroup increased their price target on Phillips 66 from $137.00 to $146.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Scotiabank reiterated a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a report on Thursday, January 22nd. Jefferies Financial Group raised their price target on Phillips 66 from $137.00 to $149.00 and gave the stock a “hold” rating in a research report on Monday, January 26th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $154.47.

Phillips 66 Stock Performance

Phillips 66 stock opened at $143.36 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. The stock has a market cap of $57.76 billion, a PE ratio of 39.17, a P/E/G ratio of 0.52 and a beta of 0.90. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $147.96. The business’s 50-day moving average price is $136.83 and its two-hundred day moving average price is $132.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same period last year, the company posted $2.04 EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.