Great Lakes Advisors LLC Sells 195,715 Shares of Phillips 66 $PSX

Great Lakes Advisors LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 83.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 39,939 shares of the oil and gas company’s stock after selling 195,715 shares during the quarter. Great Lakes Advisors LLC’s holdings in Phillips 66 were worth $5,432,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after acquiring an additional 7,214 shares during the last quarter. Woodline Partners LP increased its position in shares of Phillips 66 by 40.7% during the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock worth $4,308,000 after buying an additional 10,089 shares during the period. Capital Investment Advisors LLC lifted its stake in Phillips 66 by 5.0% in the second quarter. Capital Investment Advisors LLC now owns 4,528 shares of the oil and gas company’s stock valued at $540,000 after buying an additional 214 shares during the period. Cooper Financial Group boosted its position in shares of Phillips 66 by 13.4% during the 2nd quarter. Cooper Financial Group now owns 1,904 shares of the oil and gas company’s stock worth $227,000 after purchasing an additional 225 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Phillips 66 by 93.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,551 shares of the oil and gas company’s stock valued at $424,000 after purchasing an additional 1,714 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.5%

NYSE:PSX opened at $143.36 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The firm’s 50-day moving average price is $136.83 and its 200-day moving average price is $132.80. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $147.96. The company has a market capitalization 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 (NYSE:PSX) last posted its quarterly earnings data 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. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the company earned $2.04 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction that occurred on Monday, December 1st. The shares were 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 in the company, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 86,094 shares of company stock valued at $11,955,366 over the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Wall Street Zen cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. Scotiabank reissued a “sector perform” rating and issued a $140.00 price target on shares of Phillips 66 in a research report on Friday, January 16th. TD Cowen upped their price target on Phillips 66 from $145.00 to $151.00 and gave the company a “buy” rating in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group increased their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $153.53.

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.