Hoese & Co LLP Has $53,000 Position in Phillips 66 (NYSE:PSX)

Hoese & Co LLP lifted its position in Phillips 66 (NYSE:PSX) by 33.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 402 shares of the oil and gas company’s stock after acquiring an additional 100 shares during the period. Hoese & Co LLP’s holdings in Phillips 66 were worth $53,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Sendero Wealth Management LLC boosted its stake in Phillips 66 by 25.0% in the 3rd quarter. Sendero Wealth Management LLC now owns 40,501 shares of the oil and gas company’s stock worth $5,324,000 after purchasing an additional 8,098 shares during the period. Cadinha & Co. LLC lifted its holdings in shares of Phillips 66 by 24.4% in the third quarter. Cadinha & Co. LLC now owns 4,080 shares of the oil and gas company’s stock valued at $536,000 after purchasing an additional 800 shares in the last quarter. Sanibel Captiva Trust Company Inc. boosted its position in shares of Phillips 66 by 3.0% during the third quarter. Sanibel Captiva Trust Company Inc. now owns 6,869 shares of the oil and gas company’s stock worth $903,000 after buying an additional 203 shares during the period. CWM LLC grew its holdings in shares of Phillips 66 by 23.0% during the third quarter. CWM LLC now owns 28,618 shares of the oil and gas company’s stock worth $3,762,000 after buying an additional 5,350 shares in the last quarter. Finally, Daymark Wealth Partners LLC raised its position in Phillips 66 by 1.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 75,295 shares of the oil and gas company’s stock valued at $9,898,000 after buying an additional 877 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho reduced their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler boosted their price target on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $151.21.

Phillips 66 Trading Up 1.3 %

Shares of Phillips 66 stock opened at $136.41 on Friday. The firm’s 50-day moving average price is $133.19 and its two-hundred day moving average price is $141.75. The company has a market capitalization of $57.10 billion, a price-to-earnings ratio of 11.70, a PEG ratio of 5.48 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $3.87 earnings per share. On average, analysts forecast that Phillips 66 will post 8.19 earnings per share 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 firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company 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.