Phillips 66 (NYSE:PSX) Shares Purchased by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 129.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 16,203 shares of the oil and gas company’s stock after acquiring an additional 9,147 shares during the period. Teamwork Financial Advisors LLC’s holdings in Phillips 66 were worth $2,647,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PSX. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth about $559,435,000. Boston Partners lifted its stake in Phillips 66 by 962.0% during the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Phillips 66 during the 4th quarter worth about $254,336,000. Wellington Management Group LLP lifted its stake in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its stake in Phillips 66 by 4,556.1% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after acquiring an additional 932,552 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

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 transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.10 during trading hours on Thursday, reaching $140.37. The stock had a trading volume of 1,081,569 shares, compared to its average volume of 2,593,537. 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 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08. The firm has a 50-day moving average of $141.87 and a 200-day moving average of $144.95.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the company earned $4.21 earnings per share. Equities research analysts predict that Phillips 66 will post 10.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PSX shares. Wells Fargo & Company upped their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Raymond James cut their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Argus restated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Mizuho cut their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Finally, Bank of America upped their price target on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.07.

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.