Hartline Investment Corp Takes $227,000 Position in Phillips 66 (NYSE:PSX)

Hartline Investment Corp purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,391 shares of the oil and gas company’s stock, valued at approximately $227,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of 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 valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 38.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares during the last quarter. Morgan Stanley increased its position in shares of Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $559,435,000. Finally, Boston Partners increased its holdings in Phillips 66 by 962.0% in 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. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $1.91 on Friday, hitting $138.46. 1,605,456 shares of the company traded hands, compared to its average volume of 2,760,059. The stock has a market capitalization of $58.70 billion, a P/E ratio of 10.80, a price-to-earnings-growth ratio of 2.13 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 52 week low of $94.51 and a 52 week high of $174.08. The business has a 50-day simple moving average of $141.54 and a 200 day simple moving average of $144.92.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 business had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period last year, the business posted $4.21 earnings per share. Research analysts expect that Phillips 66 will post 10.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Barclays reduced their target price on shares of Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a report on Monday. Raymond James reduced their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Finally, Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.07.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 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.