Gemmer Asset Management LLC boosted its stake in Phillips 66 (NYSE:PSX) by 13.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,167 shares of the oil and gas company’s stock after acquiring an additional 137 shares during the period. Gemmer Asset Management LLC’s holdings in Phillips 66 were worth $111,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Moller Financial Services boosted its holdings in Phillips 66 by 100.0% in the first quarter. Moller Financial Services now owns 4,736 shares of the oil and gas company’s stock valued at $445,000 after acquiring an additional 2,368 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Phillips 66 by 4.4% in the first quarter. Meeder Asset Management Inc. now owns 87,291 shares of the oil and gas company’s stock valued at $8,308,000 after buying an additional 3,667 shares during the period. Fruth Investment Management lifted its stake in Phillips 66 by 143.4% in the first quarter. Fruth Investment Management now owns 13,950 shares of the oil and gas company’s stock valued at $1,327,000 after buying an additional 8,219 shares during the period. South Texas Money Management Ltd. lifted its stake in Phillips 66 by 12.9% in the first quarter. South Texas Money Management Ltd. now owns 5,212 shares of the oil and gas company’s stock valued at $496,000 after buying an additional 596 shares during the period. Finally, Means Investment CO. Inc. lifted its stake in Phillips 66 by 4.9% in the first quarter. Means Investment CO. Inc. now owns 4,363 shares of the oil and gas company’s stock valued at $415,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 71.30% of the company’s stock.
Shares of NYSE:PSX opened at $95.98 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The company has a market cap of $43.73 billion, a PE ratio of 8.20, a PEG ratio of 1.43 and a beta of 0.94.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $2.11. Phillips 66 had a return on equity of 21.71% and a net margin of 4.90%. The company had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities analysts predict that Phillips 66 will post 7.92 EPS for the current fiscal year.
In other news, Chairman Greg C. Garland sold 42,728 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.
Several brokerages have issued reports on PSX. Jefferies Financial Group lowered Phillips 66 from a “buy” rating to a “hold” rating and boosted their price target for the company from $105.00 to $107.00 in a research note on Monday. Citigroup boosted their price target on Phillips 66 from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Monday. Argus lowered their target price on Phillips 66 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Finally, Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Phillips 66 has an average rating of “Hold” and a consensus target price of $120.18.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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