Tiaa Fsb lifted its position in shares of Phillips 66 (NYSE:PSX) by 16.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,879 shares of the oil and gas company’s stock after buying an additional 3,031 shares during the period. Tiaa Fsb’s holdings in Phillips 66 were worth $2,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in PSX. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 0.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 6,429,513 shares of the oil and gas company’s stock worth $724,735,000 after buying an additional 36,370 shares during the last quarter. Martingale Asset Management L P increased its holdings in Phillips 66 by 513.4% in the 3rd quarter. Martingale Asset Management L P now owns 16,622 shares of the oil and gas company’s stock valued at $1,874,000 after purchasing an additional 13,912 shares during the last quarter. Vident Investment Advisory LLC increased its holdings in Phillips 66 by 74.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 6,536 shares of the oil and gas company’s stock valued at $737,000 after purchasing an additional 2,779 shares during the last quarter. Man Group plc increased its holdings in Phillips 66 by 73.9% in the 3rd quarter. Man Group plc now owns 138,922 shares of the oil and gas company’s stock valued at $15,659,000 after purchasing an additional 59,028 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Phillips 66 by 15.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 256,704 shares of the oil and gas company’s stock valued at $28,936,000 after purchasing an additional 34,131 shares during the last quarter. Institutional investors and hedge funds own 71.30% of the company’s stock.
In related news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction on Wednesday, February 20th. The shares were 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 link. 0.13% of the stock is owned by company insiders.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $2.11. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. The firm had revenue of $29.84 billion for the quarter, compared to analyst estimates of $35.51 billion. During the same period last year, the business earned $1.07 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 7.92 earnings per share for the current year.
Several research firms recently weighed in on PSX. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Monday. Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their target price for the company from $105.00 to $107.00 in a report on Monday. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Finally, Argus decreased their price target on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $120.18.
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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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