San Luis Wealth Advisors LLC Raises Stock Holdings in Phillips 66 (NYSE:PSX)

San Luis Wealth Advisors LLC grew its holdings in Phillips 66 (NYSE:PSX) by 101.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,153 shares of the oil and gas company’s stock after buying an additional 2,590 shares during the quarter. San Luis Wealth Advisors LLC’s holdings in Phillips 66 were worth $677,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter worth $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 in the 4th quarter valued at about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter worth about $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Barclays dropped their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Piper Sandler lifted their price target on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.21.

Phillips 66 Price Performance

Shares of PSX opened at $136.41 on Friday. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a 50-day simple moving average of $133.19 and a two-hundred day simple moving average of $141.75. The stock has a market cap of $57.10 billion, a PE ratio of 11.70, a P/E/G ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.87 earnings per share. As a group, analysts forecast that Phillips 66 will post 8.19 EPS for the current year.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 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.