First Trust Direct Indexing L.P. Raises Stake in Phillips 66 (NYSE:PSX)

First Trust Direct Indexing L.P. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,926 shares of the oil and gas company’s stock after purchasing an additional 899 shares during the period. First Trust Direct Indexing L.P.’s holdings in Phillips 66 were worth $2,275,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PSX. Financial Sense Advisors Inc. lifted its position in Phillips 66 by 1.3% in the first quarter. Financial Sense Advisors Inc. now owns 6,700 shares of the oil and gas company’s stock valued at $1,094,000 after purchasing an additional 87 shares during the period. Norden Group LLC lifted its holdings in shares of Phillips 66 by 2,848.4% in the 1st quarter. Norden Group LLC now owns 63,716 shares of the oil and gas company’s stock valued at $10,409,000 after buying an additional 61,555 shares during the period. Community Bank & Trust Waco Texas boosted its stake in shares of Phillips 66 by 5.0% in the first quarter. Community Bank & Trust Waco Texas now owns 32,172 shares of the oil and gas company’s stock valued at $5,255,000 after buying an additional 1,529 shares in the last quarter. Arvest Investments Inc. grew its holdings in Phillips 66 by 86.9% during the first quarter. Arvest Investments Inc. now owns 7,198 shares of the oil and gas company’s stock worth $1,176,000 after acquiring an additional 3,346 shares during the period. Finally, Wallington Asset Management LLC raised its position in Phillips 66 by 1.5% in the first quarter. Wallington Asset Management LLC now owns 128,249 shares of the oil and gas company’s stock worth $20,948,000 after acquiring an additional 1,877 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.1 %

Phillips 66 stock opened at $140.37 on Friday. The stock has a market cap of $59.51 billion, a PE ratio of 10.80, a P/E/G ratio of 2.13 and a beta of 1.34. The stock has a 50-day moving average price of $141.54 and a 200 day moving average price of $144.92. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. 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 posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $4.21 EPS. Equities research analysts predict that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Barclays reduced their target price on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Piper Sandler dropped their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Bank of America raised their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

Insider Buying and Selling

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated 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 completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Company Profile

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.