Phillips 66 (PSX) Stake Cut by Capital One National Association

Capital One National Association lowered its position in Phillips 66 (NYSE:PSX) by 2.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,758 shares of the company’s stock after selling 2,504 shares during the period. Capital One National Association’s holdings in Phillips 66 were worth $7,391,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of PSX. Farmers National Bank acquired a new stake in shares of Phillips 66 during the second quarter worth $141,000. Delphi Private Advisors LLC increased its stake in shares of Phillips 66 by 1.0% in the second quarter. Delphi Private Advisors LLC now owns 1,781 shares of the company’s stock worth $141,000 after buying an additional 18 shares during the last quarter. Ledyard National Bank increased its stake in shares of Phillips 66 by 12.0% in the third quarter. Ledyard National Bank now owns 1,871 shares of the company’s stock worth $151,000 after buying an additional 200 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Phillips 66 by 1.2% in the third quarter. Quadrant Capital Group LLC now owns 1,996 shares of the company’s stock worth $153,000 after buying an additional 23 shares during the last quarter. Finally, Financial Architects Inc increased its stake in shares of Phillips 66 by 417.0% in the second quarter. Financial Architects Inc now owns 2,011 shares of the company’s stock worth $160,000 after buying an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 68.17% of the company’s stock.

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

Phillips 66 (NYSE:PSX) traded up 1.09% during trading on Wednesday, hitting $84.67. 1,485,167 shares of the company’s stock traded hands. The stock has a market cap of $44.10 billion, a P/E ratio of 22.17 and a beta of 1.34. Phillips 66 has a 12 month low of $71.74 and a 12 month high of $90.87. The company’s 50 day moving average is $86.07 and its 200-day moving average is $80.59.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, October 28th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.88 by $0.17. Phillips 66 had a net margin of 2.43% and a return on equity of 8.86%. During the same quarter in the prior year, the business earned $3.02 earnings per share. On average, analysts predict that Phillips 66 will post $3.33 earnings per share for the current year.

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A number of analysts have weighed in on the company. Jefferies Group set a $72.00 price target on Phillips 66 and gave the stock a “hold” rating in a report on Saturday, October 15th. RBC Capital Markets reiterated a “hold” rating and set a $88.00 price target on shares of Phillips 66 in a report on Thursday, January 5th. Zacks Investment Research upgraded Phillips 66 from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 28th. Vetr downgraded Phillips 66 from a “strong-buy” rating to a “buy” rating and set a $87.42 target price for the company. in a research note on Tuesday, September 13th. Finally, Barclays PLC restated an “equal weight” rating and issued a $84.00 target price (down from $86.00) on shares of Phillips 66 in a research note on Monday, October 10th. Fifteen research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Phillips 66 presently has a consensus rating of “Hold” and a consensus target price of $84.97.

In related news, VP Chukwuemeka A. Oyolu sold 3,574 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $88.12, for a total value of $314,940.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lawrence Michael Ziemba sold 101,909 shares of the stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $85.24, for a total transaction of $8,686,723.16. Following the completion of the transaction, the vice president now directly owns 113,996 shares of the company’s stock, valued at $9,717,019.04. The disclosure for this sale can be found here. 0.05% of the stock is currently owned by corporate insiders.

About Phillips 66

Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.

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