According to the most recent filing that Avantax Advisory Services Inc. has made with the Securities and Exchange Commission (SEC), during the third quarter, the company increased its holdings in Phillips 66 (NYSE: PSX). As a result of the company’s purchase of an additional 1,146 shares during the relevant period, it is now possible for the business to assert ownership of 50,370 shares of stock in the oil and gas company. The value of the company’s shares in Phillips 66 was reported to be $4,066,000 in the most recent disclosure that Avantax Advisory Services Inc. made with the SEC.
Various hedge funds have recently conducted trading in the company’s stock, buying and selling individual shares. The amount of money that Moneco Advisors LLC invested in Phillips 66 increased by 27.5% during the third quarter compared to the previous quarter. MONECO Advisors LLC now has a total of 3,278 shares of the oil and gas company’s stock, which are currently valued at $265,000 after purchasing an additional 707 shares during the period in question. During the third quarter, Crossmark Global Holdings Inc. increased the amount of Phillips 66 stock owned by 85.2% to bring its total ownership percentage to 100%. Crossmark Global Holdings Inc. now has 79,716 shares of the oil and gas company’s stock, which are currently valued at $6,435,000 after purchasing an additional 36,679 shares during the period in question. This brings the company’s total number of shares to 79,716. In the third quarter, Kestra Advisory Services LLC increased its holdings of Phillips 66 stock by 35.1%, bringing the total number of shares held by the company to 100%. Kestra Advisory Services LLC now directly owns 88,273 shares of the oil and gas company’s stock, which has a value of $7,125,000 after purchasing an additional 22,955 shares of the company’s stock during the period in question. During the third quarter, Fortem Financial Group LLC increased the amount of Phillips 66 stock owned by 0.9%, bringing the total amount of stock owned by the company to a total of 1.1%. Fortem Financial Group LLC now has 10,409 shares of the oil and gas company’s stock, which has an estimated value of $840,000 after purchasing an additional 94 shares during the period in question. This brings the total number of shares owned by the company to 10,409. And finally, during the third quarter, Parkside Financial Bank & Trust increased the amount of Phillips 66 stock held by 23.3%, bringing the total percentage of Phillips 66 stock it owns to 100%. There are currently 673 shares of the oil and gas company’s stock that belong to Parkside Financial Bank & Trust. These shares have a combined market value of $54,000. This is a direct result of the additional 127 shares purchased by the bank during the period in question. Financial institutions hold the vast majority of the company’s shares, which amount to 70.76 percent of the total.
Recently, various equity analysts have provided their commentary on PSX stock, which has been the subject of their attention. In a research report released on Tuesday, January 10th, Mizuho maintained its “neutral” rating on Phillips 66 while increasing its price objective on the company’s stock from $115.00 to $121.50. This change was made in response to the company’s recent earnings report. BMO Capital Markets raised their price objective for Phillips 66 from $120.00 to $125.00 and assigned the company an “outperform” rating on the stock in a report published on Thursday, November 10th. In a report made public on January 5th, Wells Fargo & Company lowered their price objective for Phillips 66 shares and changed their rating from “overweight” to “neutral.”
Additionally, they lowered their price objective for the stock from $134.00 to $127.00. In a research report published on Monday, December 19th, Piper Jaffray lowered their “overweight” rating that they had previously held on Phillips 66 and lowered their price objective on the company’s stock from $155.00 to $137.00. Both of these changes were made. On October 19th, Jefferies Financial Group published a report announcing they had begun coverage of Phillips 66 stock. This was the last and most recent development. They suggested that investors “keep” their positions and that the company’s price target be set at $105.00. Nine research analysts endorse the purchase of the stock, whereas only five endorse the continuation of the current holding strategy. Bloomberg reports that the general opinion regarding the company is that it is currently a “Moderate Buy” and that the average price objective for the stock is currently set at $118.27.
On Wednesday, trading got underway on the NYSE: PSX for $102.51, the same price at which it had been opened. The current price of Phillips 66 represents a one-year low of $73.85, while the current price represents a one-year high of $113.53. The moving average of the company’s stock price over the past 200 days is $94.60, while the moving average over the past 50 days is $104.81. The current ratio is 1.30, the quick ratio is 1.06, and the debt-to-equity ratio is 0.50. All three ratios are in the same range. There is little difference between any of the three ratios. The company’s market capitalization is currently sitting at $48.45 billion. It has a price-to-earnings ratio of 4.69, a price-to-earnings-to-growth ratio of 0.40, and a beta of 1.41. These metrics point to the fact that the stock trades at a premium relative to its peers.
The most recent quarterly earnings report for Phillips 66 (NYSE: PSX) was released to the public on November 1st, which was a Tuesday. The report covered the company’s performance over the past three months. The oil and gas company announced that it had earned $6.46 per share for the quarter, which was $1.48 more than the average expectation of $4.98 per share. In their financial statements, Phillips 66 indicated that their net margin was 6.18%, and their equity return was 32.66%. However, the actual revenue that the company brought in for the quarter was $48.76 billion, which is significantly higher than the $40.68 billion that analysts anticipated it would bring in for the quarter. The company had a profit per share of $3.18 during the same period the year before when the same period was compared. According to estimates provided by sell-side analysts, Phillips 66 should bring in 19.38 cents per share in profits for the current fiscal year.
On Friday, November 11th, Vice President Joseph Scott Pruitt completed the sale of 3,000 shares of Phillips 66 stock. This is another piece of news. This is just the most recent occurrence in a string of recent occurrences. A total of 335,580.00 dollars worth of shares were transacted at an average price of $111.86 per share, leading to a sale volume of 335,580.00 dollars. Following the completion of the sale, the vice president will have a total of 15,302 shares in the company, which have a combined value of approximately 1,711,681.72 dollars. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed. Business insiders own a total of 0.74% of the company’s shares.
Phillips 66 is a multinational company that specializes in the production of energy as well as logistics. The company can be broken down into four distinct business segments: midstream, chemicals, refining, and marketing and specialties (M&S). In addition to providing terminaling and storage services for crude oil and refined petroleum products, it also gathers, transports, processes, and sells natural gas; it transports, stores, fractionates and sells natural gas liquids. Moreover, it gathers, transports, processes, and sells natural gas. Lastly, it transports, fractionates, and sells natural gas liquids. The midstream sector is responsible for the transportation of crude oil as well as several other feedstocks. In addition to that, it distributes refined petroleum products to the market.