Confluence Wealth Services Inc. Reduces Holdings in Phillips 66 (NYSE:PSX)

Confluence Wealth Services Inc. trimmed its position in shares of Phillips 66 (NYSE:PSXFree Report) by 1.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,405 shares of the oil and gas company’s stock after selling 115 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Phillips 66 were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC lifted its position in shares of Phillips 66 by 100,843.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after purchasing an additional 9,969,418 shares during the last quarter. Barclays PLC lifted its position in shares of Phillips 66 by 416.9% during the second quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after purchasing an additional 6,009,826 shares during the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the fourth quarter worth $364,237,000. Wellington Management Group LLP lifted its position in shares of Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after purchasing an additional 2,753,700 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Phillips 66 during the second quarter worth $109,888,000. 71.83% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $128.27 on Thursday. The business’s 50 day moving average price is $126.75 and its 200 day moving average price is $117.41. The firm has a market cap of $56.43 billion, a P/E ratio of 7.74, a P/E/G ratio of 1.64 and a beta of 1.37. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $138.06. The company has a quick ratio of 0.96, a current ratio of 1.29 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSXGet Free Report) last announced its quarterly earnings results on Friday, October 27th. The oil and gas company reported $4.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same period last year, the company earned $6.46 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 15.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PSX shares. TD Cowen lifted their target price on Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Raymond James lifted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. Piper Sandler decreased their price objective on Phillips 66 from $138.00 to $134.00 and set an “overweight” rating for the company in a report on Thursday, October 5th. Tudor, Pickering, Holt & Co. upgraded Phillips 66 from a “hold” rating to a “buy” rating and lifted their price objective for the company from $115.00 to $130.00 in a report on Monday, October 30th. Finally, Mizuho decreased their price objective on Phillips 66 from $131.00 to $116.00 and set a “neutral” rating for the company in a report on Friday, October 6th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $135.29.

View Our Latest Analysis on Phillips 66

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 31,700 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the completion of the transaction, the chief financial officer now directly owns 103,351 shares of the company’s stock, valued at $13,457,333.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, CFO Kevin J. Mitchell sold 31,700 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the completion of the transaction, the chief financial officer now directly owns 103,351 shares of the company’s stock, valued at $13,457,333.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Zhanna Golodryga sold 5,253 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total value of $709,155.00. Following the completion of the transaction, the executive vice president now directly owns 24,914 shares of the company’s stock, valued at $3,363,390. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,653 shares of company stock valued at $5,462,808. 4.57% of the stock is owned by company insiders.

Phillips 66 Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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