Peachtree Investment Advisors Inc. lessened its position in shares of Phillips 66 (NYSE:PSX) by 34.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,615 shares of the oil and gas company’s stock after selling 1,351 shares during the period. Peachtree Investment Advisors Inc.’s holdings in Phillips 66 were worth $265,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Rowland & Co. Investment Counsel ADV purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $102,000. Motco lifted its position in shares of Phillips 66 by 4.0% during the 2nd quarter. Motco now owns 1,309 shares of the oil and gas company’s stock worth $108,000 after buying an additional 50 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $112,000. Ffcm LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $113,000. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $127,000. Institutional investors own 70.12% of the company’s stock.
Phillips 66 (NYSE PSX) traded up $2.60 during mid-day trading on Tuesday, reaching $104.97. 1,849,200 shares of the company traded hands, compared to its average volume of 1,377,356. Phillips 66 has a 1 year low of $75.14 and a 1 year high of $105.09. The stock has a market cap of $52,770.00, a P/E ratio of 26.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.86 and a current ratio of 1.31.
Phillips 66 declared that its Board of Directors has initiated a stock repurchase plan on Monday, October 9th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Several analysts have recently weighed in on the stock. Barclays set a $95.00 price objective on shares of Phillips 66 and gave the stock an “equal weight” rating in a research report on Tuesday, October 10th. Scotiabank restated a “buy” rating and set a $112.00 price objective on shares of Phillips 66 in a research report on Wednesday, January 10th. Vetr upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $97.16 price objective for the company in a research report on Monday, October 16th. Cowen restated a “buy” rating and set a $101.00 price objective on shares of Phillips 66 in a research report on Tuesday, October 17th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $98.00 price objective on shares of Phillips 66 in a research report on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $96.66.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the sale, the vice president now owns 2,700 shares in the company, valued at approximately $270,675. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.50% of the stock is owned by corporate insiders.
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Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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