Investors Buy Phillips 66 (PSX) on Weakness

Investors bought shares of Phillips 66 (NYSE:PSX) on weakness during trading on Thursday. $76.97 million flowed into the stock on the tick-up and $40.60 million flowed out of the stock on the tick-down, for a money net flow of $36.37 million into the stock. Of all stocks tracked, Phillips 66 had the 11th highest net in-flow for the day. Phillips 66 traded down ($0.36) for the day and closed at $110.15

Several brokerages have commented on PSX. Credit Suisse Group raised their target price on shares of Phillips 66 from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. Barclays raised their target price on shares of Phillips 66 from $105.00 to $115.00 and gave the stock an “underweight” rating in a report on Monday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, June 4th. Citigroup raised their target price on shares of Phillips 66 from $92.00 to $94.00 and gave the stock a “neutral” rating in a report on Tuesday, March 13th. Finally, Argus lifted their price objective on shares of Phillips 66 to $133.00 and gave the company a “buy” rating in a report on Thursday, May 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $108.25.

The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.80 and a current ratio of 1.31. The firm has a market cap of $51.48 billion, a PE ratio of 25.15, a P/E/G ratio of 1.79 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.13. The business had revenue of $24.05 billion for the quarter, compared to the consensus estimate of $29.23 billion. Phillips 66 had a net margin of 4.85% and a return on equity of 10.00%. During the same period in the previous year, the company earned $0.56 earnings per share. equities research analysts expect that Phillips 66 will post 7.25 EPS for the current fiscal year.

In related news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the business’s stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $120.00, for a total transaction of $828,000.00. Following the transaction, the vice president now directly owns 8,177 shares in the company, valued at $981,240. The sale was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Elkfork Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth $1,633,000. Pin Oak Investment Advisors Inc. acquired a new position in Phillips 66 during the fourth quarter worth $119,000. Laurel Wealth Advisors Inc. increased its holdings in Phillips 66 by 14.7% during the fourth quarter. Laurel Wealth Advisors Inc. now owns 21,797 shares of the oil and gas company’s stock worth $2,204,000 after buying an additional 2,796 shares during the last quarter. Csenge Advisory Group bought a new position in Phillips 66 during the fourth quarter worth $339,000. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in Phillips 66 during the fourth quarter worth $7,224,000. Institutional investors and hedge funds own 69.26% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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