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

Carret Asset Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 1.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. DekaBank Deutsche Girozentrale boosted its stake in shares of Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth approximately $10,402,000. TIAA Trust National Association raised its stake in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after acquiring an additional 10,536 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in Phillips 66 by 14.3% during 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. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PSX shares. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Barclays decreased their price target on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Monday. Piper Sandler dropped their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.1 %

Shares of NYSE PSX traded down $0.10 during midday trading on Wednesday, reaching $140.37. 1,080,759 shares of the stock were exchanged, compared to its average volume of 2,769,148. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a 12 month low of $94.51 and a 12 month high of $174.08. The business has a 50-day simple moving average of $142.22 and a two-hundred day simple moving average of $144.98. The company has a market capitalization of $59.51 billion, a price-to-earnings ratio of 10.75, a P/E/G 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 the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the company earned $4.21 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 10.99 EPS for the current year.

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.