Hennessy Advisors Inc. Lowers Stake in Phillips 66 (NYSE:PSX)

Hennessy Advisors Inc. reduced its position in shares of Phillips 66 (NYSE:PSX) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,200 shares of the oil and gas company’s stock after selling 2,300 shares during the quarter. Hennessy Advisors Inc.’s holdings in Phillips 66 were worth $5,593,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PSX. Hartford Investment Management Co. lifted its stake in Phillips 66 by 7.5% in the 3rd quarter. Hartford Investment Management Co. now owns 71,887 shares of the oil and gas company’s stock valued at $7,361,000 after buying an additional 5,010 shares in the last quarter. CastleArk Alternatives LLC lifted its stake in Phillips 66 by 183.3% in the 3rd quarter. CastleArk Alternatives LLC now owns 37,400 shares of the oil and gas company’s stock valued at $3,830,000 after buying an additional 24,200 shares in the last quarter. World Asset Management Inc lifted its stake in Phillips 66 by 8.7% in the 3rd quarter. World Asset Management Inc now owns 42,252 shares of the oil and gas company’s stock valued at $4,327,000 after buying an additional 3,395 shares in the last quarter. BBVA USA Bancshares Inc. purchased a new position in Phillips 66 in the 3rd quarter valued at about $4,248,000. Finally, Putnam Investments LLC lifted its stake in Phillips 66 by 1.3% in the 2nd quarter. Putnam Investments LLC now owns 383,880 shares of the oil and gas company’s stock valued at $35,909,000 after buying an additional 5,044 shares in the last quarter. 68.34% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages recently weighed in on PSX. ValuEngine raised shares of Phillips 66 from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 8th. Evercore ISI began coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They issued an “outperform” rating on the stock. Morgan Stanley decreased their price target on shares of Phillips 66 from $125.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Royal Bank of Canada reaffirmed a “hold” rating and issued a $120.00 price target on shares of Phillips 66 in a research note on Sunday, December 22nd. Finally, Wells Fargo & Co increased their price objective on shares of Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the stock. Phillips 66 has a consensus rating of “Buy” and a consensus target price of $120.00.

PSX stock opened at $106.38 on Wednesday. The company has a market cap of $46.60 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.55 and a beta of 1.09. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Phillips 66 has a 12 month low of $80.24 and a 12 month high of $119.92. The firm has a 50-day moving average of $111.36 and a two-hundred day moving average of $106.14.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, beating the Zacks’ consensus estimate of $2.60 by $0.51. The company had revenue of $27.77 billion during the quarter, compared to the consensus estimate of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same quarter in the prior year, the firm earned $3.10 EPS. As a group, equities analysts forecast that Phillips 66 will post 8.69 earnings per share for the current year.

In other news, VP Chukwuemeka A. Oyolu sold 464 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $119.53, for a total transaction of $55,461.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.13% of the stock is owned by company insiders.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Further Reading: Certificate of Deposit (CD) For Risk Adverse Investors?

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

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