Boston Private Wealth LLC reduced its position in Phillips 66 (NYSE:PSX) by 39.1% during the third quarter, HoldingsChannel reports. The firm owned 3,578 shares of the oil and gas company’s stock after selling 2,300 shares during the period. Boston Private Wealth LLC’s holdings in Phillips 66 were worth $250,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Vanguard Group Inc. lifted its holdings in Phillips 66 by 0.5% in the second quarter. Vanguard Group Inc. now owns 43,181,322 shares of the oil and gas company’s stock valued at $3,705,821,000 after buying an additional 231,139 shares during the period. BlackRock Inc. lifted its stake in shares of Phillips 66 by 1.9% in the 2nd quarter. BlackRock Inc. now owns 34,064,275 shares of the oil and gas company’s stock valued at $2,923,398,000 after purchasing an additional 649,223 shares during the period. State Street Corp boosted its position in shares of Phillips 66 by 1.7% during the 2nd quarter. State Street Corp now owns 29,583,596 shares of the oil and gas company’s stock valued at $2,538,864,000 after purchasing an additional 501,467 shares in the last quarter. Geode Capital Management LLC grew its stake in Phillips 66 by 17.5% during the second quarter. Geode Capital Management LLC now owns 7,459,489 shares of the oil and gas company’s stock worth $638,329,000 after purchasing an additional 1,109,917 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Phillips 66 by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 4,335,006 shares of the oil and gas company’s stock worth $372,031,000 after purchasing an additional 255,687 shares in the last quarter. Institutional investors own 68.17% of the company’s stock.
Shares of NYSE PSX opened at $88.58 on Friday. The company has a market capitalization of $38.81 billion, a PE ratio of -77.03, a PEG ratio of 0.62 and a beta of 1.66. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 0.65. The stock’s 50 day moving average price is $74.76 and its 200-day moving average price is $74.80. Phillips 66 has a twelve month low of $63.19 and a twelve month high of $94.34.
A number of research analysts recently issued reports on PSX shares. Piper Sandler upgraded shares of Phillips 66 from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $87.00 in a research report on Wednesday, October 6th. Zacks Investment Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating and set a $76.00 price objective on the stock. in a research report on Monday, December 20th. Cowen boosted their target price on Phillips 66 from $77.00 to $78.00 and gave the company a “market perform” rating in a research report on Tuesday, December 28th. Morgan Stanley increased their price target on Phillips 66 from $95.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Citigroup upped their target price on Phillips 66 from $75.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 6th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $89.80.
In related news, VP Joseph Scott Pruitt sold 2,250 shares of Phillips 66 stock in a transaction that occurred on Thursday, December 23rd. The shares were sold at an average price of $72.62, for a total value of $163,395.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.74% of the stock is currently owned by corporate insiders.
Phillips 66 Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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