Westside Investment Management Inc. Has $240,000 Stock Position in Phillips 66 (NYSE:PSX)

Westside Investment Management Inc. lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 6.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,471 shares of the oil and gas company’s stock after selling 100 shares during the period. Westside Investment Management Inc.’s holdings in Phillips 66 were worth $240,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PSX. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth approximately $559,435,000. Boston Partners grew its stake in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after purchasing an additional 3,494,878 shares during the period. International Assets Investment Management LLC acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $254,336,000. Wellington Management Group LLP grew its stake in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its stake in Phillips 66 by 4,556.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after acquiring an additional 932,552 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $140.37 on Thursday. The business’s fifty day simple moving average is $142.22 and its 200 day simple moving average is $144.98. The firm has a market capitalization of $59.51 billion, a P/E ratio of 10.81, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. Phillips 66 has a 12 month low of $94.51 and a 12 month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the business posted $4.21 earnings per share. As a group, analysts anticipate that Phillips 66 will post 10.99 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Argus reissued a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho reduced their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Finally, Raymond James cut their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.07.

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.