Spire Wealth Management Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Spire Wealth Management boosted its holdings in Phillips 66 (NYSE:PSXFree Report) by 162.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,828 shares of the oil and gas company’s stock after purchasing an additional 7,317 shares during the quarter. Spire Wealth Management’s holdings in Phillips 66 were worth $1,421,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. NewEdge Wealth LLC lifted its stake in Phillips 66 by 13.3% in the third quarter. NewEdge Wealth LLC now owns 15,206 shares of the oil and gas company’s stock valued at $1,827,000 after buying an additional 1,785 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after purchasing an additional 421,714 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Phillips 66 by 12.5% during the third quarter. Banque Cantonale Vaudoise now owns 14,846 shares of the oil and gas company’s stock worth $1,783,000 after purchasing an additional 1,644 shares during the last quarter. WealthBridge Capital Management LLC purchased a new stake in shares of Phillips 66 during the third quarter worth approximately $223,000. Finally, Penobscot Investment Management Company Inc. raised its stake in shares of Phillips 66 by 5.0% during the third quarter. Penobscot Investment Management Company Inc. now owns 7,634 shares of the oil and gas company’s stock worth $917,000 after purchasing an additional 364 shares during the last quarter. 71.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 31,700 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $130.21, for a total transaction of $4,127,657.00. Following the completion of the sale, the chief financial officer now owns 103,351 shares in the company, valued at approximately $13,457,333.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Kevin J. Mitchell sold 31,700 shares of Phillips 66 stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the completion of the transaction, the chief financial officer now owns 103,351 shares in the company, valued at approximately $13,457,333.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph Scott Pruitt sold 1,000 shares of Phillips 66 stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $133.23, for a total value of $133,230.00. Following the completion of the transaction, the vice president now owns 6,593 shares of the company’s stock, valued at approximately $878,385.39. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,653 shares of company stock worth $5,462,808. 4.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PSX. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price target for the company in a research note on Tuesday, October 31st. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. StockNews.com upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, February 1st. Tudor, Pickering, Holt & Co. upgraded Phillips 66 from a “hold” rating to a “buy” rating and increased their price objective for the stock from $115.00 to $130.00 in a research report on Monday, October 30th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $151.00 to $163.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.80.

Check Out Our Latest Analysis on PSX

Phillips 66 Stock Performance

Phillips 66 stock opened at $145.91 on Wednesday. The company has a market cap of $64.19 billion, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 1.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 0.96. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $149.52. The stock’s 50-day moving average is $133.03 and its 200-day moving average is $121.32.

Phillips 66 Company Profile

(Free Report)

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.

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

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