FORVIS Wealth Advisors LLC Has $577,000 Position in Phillips 66 (NYSE:PSX)

FORVIS Wealth Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,534 shares of the oil and gas company’s stock after acquiring an additional 83 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Phillips 66 were worth $577,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $28,000. First United Bank & Trust acquired a new position in Phillips 66 in the 4th quarter valued at $31,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Phillips 66 in the 4th quarter valued at $36,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PSX shares. Wells Fargo & Company upped their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group upped their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Raymond James decreased their price objective on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Barclays cut their target price on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. cut their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $157.07.

Phillips 66 Trading Down 0.1 %

NYSE PSX traded down $0.10 during trading hours on Thursday, hitting $140.37. 1,081,569 shares of the company’s stock were exchanged, compared to its average volume of 2,593,537. The stock has a 50-day simple moving average of $141.87 and a 200 day simple moving average of $144.95. Phillips 66 has a 1-year low of $94.51 and a 1-year high of $174.08. The firm has a market cap of $59.51 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 2.13 and a beta of 1.34. 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 released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the business earned $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 10.99 EPS for the current fiscal year.

Insider Buying and Selling

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

About Phillips 66

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.