Klingman & Associates LLC Purchases New Position in Phillips 66 $PSX

Klingman & Associates LLC purchased a new position in Phillips 66 (NYSE:PSX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,106 shares of the oil and gas company’s stock, valued at approximately $967,000.

Other large investors also recently added to or reduced their stakes in the company. Heck Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 1.2% in the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock worth $833,000 after purchasing an additional 75 shares during the period. Hemington Wealth Management lifted its position in Phillips 66 by 15.7% in the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock worth $78,000 after buying an additional 78 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its stake in Phillips 66 by 1.9% during 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 worth $584,000 after buying an additional 79 shares during the period. CWC Advisors LLC. increased its position in Phillips 66 by 0.6% during the third quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock valued at $1,816,000 after acquiring an additional 80 shares during the last quarter. Finally, First American Bank raised its stake in shares of Phillips 66 by 0.3% in the third quarter. First American Bank now owns 30,033 shares of the oil and gas company’s stock valued at $4,085,000 after acquiring an additional 81 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.6%

Shares of NYSE PSX opened at $137.95 on Wednesday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $145.68. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of 37.69, a PEG ratio of 0.38 and a beta of 0.90. The stock has a 50 day moving average price of $135.92 and a 200 day moving average price of $131.66. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate 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 return on equity of 5.53% and a net margin of 1.12%.During the same period last year, the business posted $2.04 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Insider Activity

In related news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 86,094 shares of company stock worth $11,955,366. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PSX. Barclays lifted their price target on shares of Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Monday. Evercore ISI upped their target price on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, September 19th. Wall Street Zen downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. TD Cowen boosted their price objective on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Finally, Piper Sandler set a $153.00 price objective on Phillips 66 in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.06.

About Phillips 66

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.