Phillips 66 (NYSE:PSX) Shares Purchased by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,243 shares of the oil and gas company’s stock after purchasing an additional 940 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Phillips 66 were worth $6,247,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in Phillips 66 by 1,562.6% in the 3rd quarter. Lazard Asset Management LLC now owns 3,774 shares of the oil and gas company’s stock valued at $452,000 after buying an additional 3,547 shares during the last quarter. Truist Financial Corp boosted its position in Phillips 66 by 6.9% in the 3rd quarter. Truist Financial Corp now owns 532,241 shares of the oil and gas company’s stock valued at $63,949,000 after buying an additional 34,573 shares during the last quarter. Axxcess Wealth Management LLC boosted its position in Phillips 66 by 260.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 13,050 shares of the oil and gas company’s stock valued at $1,568,000 after buying an additional 9,431 shares during the last quarter. Ellerson Group Inc. ADV boosted its position in Phillips 66 by 0.7% in the 3rd quarter. Ellerson Group Inc. ADV now owns 29,152 shares of the oil and gas company’s stock valued at $3,503,000 after buying an additional 197 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in Phillips 66 by 7.2% in the 3rd quarter. Lido Advisors LLC now owns 12,542 shares of the oil and gas company’s stock valued at $1,507,000 after buying an additional 845 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on PSX shares. Mizuho decreased their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Barclays decreased their price objective on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday. Scotiabank increased their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $157.07.

Phillips 66 Price Performance

PSX opened at $140.47 on Wednesday. The firm has a market cap of $59.55 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 2.12 and a beta of 1.34. Phillips 66 has a fifty-two week low of $94.51 and a fifty-two week high of $174.08. The company’s 50-day moving average price is $142.59 and its 200 day moving average price is $144.90. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter last year, the company earned $4.21 EPS. As a group, sell-side analysts expect that Phillips 66 will post 10.99 earnings per share for the current year.

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.