Chemung Canal Trust Co. Sells 5,183 Shares of Phillips 66 (NYSE:PSX)


Share on StockTwits

Chemung Canal Trust Co. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 60.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,329 shares of the oil and gas company’s stock after selling 5,183 shares during the quarter. Chemung Canal Trust Co.’s holdings in Phillips 66 were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Baystate Wealth Management LLC grew its holdings in Phillips 66 by 71.6% during the 3rd quarter. Baystate Wealth Management LLC now owns 496 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 207 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $26,000. Sageworth Trust Co purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $28,000. Horan Capital Advisors LLC. purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $30,000. Finally, Pacifica Partners Inc. grew its stake in shares of Phillips 66 by 28.0% during the 4th quarter. Pacifica Partners Inc. now owns 686 shares of the oil and gas company’s stock valued at $48,000 after buying an additional 150 shares during the period. 65.91% of the stock is currently owned by hedge funds and other institutional investors.

NYSE PSX traded down $1.97 on Wednesday, hitting $71.77. The stock had a trading volume of 2,489,355 shares, compared to its average volume of 3,385,487. Phillips 66 has a one year low of $40.04 and a one year high of $106.66. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.54. The stock has a market cap of $31.35 billion, a price-to-earnings ratio of -25.91, a P/E/G ratio of 34.44 and a beta of 1.53. The company’s 50-day moving average is $68.45 and its two-hundred day moving average is $60.85.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.80) by $0.79. Phillips 66 had a negative net margin of 1.32% and a positive return on equity of 8.76%. The firm had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $17.15 billion. During the same quarter in the prior year, the firm earned $3.11 EPS. On average, sell-side analysts anticipate that Phillips 66 will post -0.18 earnings per share for the current year.

Several research firms recently weighed in on PSX. Cowen lifted their target price on shares of Phillips 66 from $67.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday, December 15th. Wolfe Research upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a report on Thursday, November 5th. Barclays reduced their target price on shares of Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Mizuho reduced their target price on shares of Phillips 66 from $92.00 to $70.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Finally, ValuEngine upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, November 26th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Phillips 66 presently has an average rating of “Buy” and a consensus price target of $71.76.

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; provides terminaling and storage services for crude oil and 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.

Further Reading: Trading signals using Bollinger bands

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

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

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.