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Phillips 66 (PSX) Shares Bought by Berkshire Asset Management …

Phillips 66 (PSX) Shares Bought By Berkshire Asset Management ...Berkshire Asset Management increased its position in shares of Phillips 66 (NYSE:PSX) by 25.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,082 shares of the company s stock after buying an additional 818 shares during the period. Berkshire Asset Management s holdings in Phillips 66 were worth $334,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. ICON Advisers raised its stake in shares of Phillips 66 by 4.2% in the third quarter. ICON Advisers now owns 254,850 shares of the company s stock worth $19,583,000 after buying an additional 10,300 shares during the last quarter. Detwiler Fenton Investment Management bought a new stake in shares of Phillips 66 during the fourth quarter worth $357,000. Stock Yards Bank & Trust Company raised its stake in shares of Phillips 66 by 1.9% in the fourth quarter. Stock Yards Bank & Trust Company now owns 7,852 shares of the company s stock worth $642,000 after buying an additional 149 shares during the last quarter. Union Bankshares raised its stake in shares of Phillips 66 by 1.1% in the fourth quarter. Union Bankshares now owns 4,227 shares of the company s stock worth $346,000 after buying an additional 47 shares during the last quarter. Finally, Chicago Trust Company raised its stake in shares of Phillips 66 by 5.6% in the fourth quarter. Chicago Trust Company now owns 16,495 shares of the company s stock worth $1,349,000 after buying an additional 869 shares during the last quarter. Shares of Phillips 66 (NYSE:PSX[1]) opened at 77.76 on Wednesday. Phillips 66 has a 1-year low of $68.32 and a 1-year high of $94.12. The company has a 50-day moving average of $80.44 and a 200-day moving average of $82.38. The firm has a market capitalization of $41.48 billion and a PE ratio of 9.08. Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, October 30th. The company reported $3.02 EPS for the quarter, beating the Zacks consensus estimate of $2.24 by $0.78. During the same quarter last year, the firm posted $2.02 earnings per share. Equities research analysts predict that Phillips 66 will post $7.63 EPS for the current fiscal year.

A number of brokerages recently weighed in on PSX. Citigroup Inc. began coverage on shares of Phillips 66 in a report on Thursday, November 26th. They set a buy rating and a $40.00 price objective for the company. Vetr[2] downgraded shares of Phillips 66 from a buy rating to a sell rating and set a $86.62 target price on the stock. in a research report on Monday, November 30th. Zacks Investment Research[3] downgraded shares of Phillips 66 from a buy rating to a hold rating in a research report on Wednesday, November 4th. Deutsche Bank raised their target price on shares of Phillips 66 from $100.00 to $102.00 and gave the company a hold rating in a research report on Tuesday, November 10th. Finally, Goldman Sachs downgraded shares of Phillips 66 from a neutral rating to a sell rating and cut their target price for the company from $92.00 to $85.00 in a research report on Monday, November 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company s stock. The stock currently has a consensus rating of Buy and a consensus price target of $87.88. In other news, VP Lawrence Michael Ziemba sold 74,467 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $93.38, for a total transaction of $6,953,728.46. Following the sale, the vice president now owns 21,902 shares of the company s stock, valued at $2,045,208.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website[4]. Also, EVP Robert A. Herman sold 4,012 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $90.72, for a total transaction of $363,968.64. Following the sale, the executive vice president now directly owns 13,751 shares in the company, valued at approximately $1,247,490.72. The disclosure for this sale can be found here[5]. Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing and specialties businesses. The Company operates its business through four segments: midstream, chemicals, refining and marketing and specialties. It gathers, processes, transports and markets natural gas, and transports, fractionates and markets natural gas liquids (NYSE:PSX[6]) in the United States. The Chemical segment manufactures and markets petrochemicals and plastics. The Chemicals segment consists of its 50% equity investment in Chevron Phillips Chemical Company LLC (CPChem). The refining segment buys, sells and refines crude oil and other feedstocks into petroleum products (such as gasolines, distillates and aviation fuels) at 14 refineries, mainly in the United States and Europe. The Marketing and Specialties segment purchases for resale and markets refined petroleum products (such as gasolines, distillates and aviation fuels), mainly in the United States and Europe.

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References

  1. ^ NYSE:PSX (www.marketbeat.com)
  2. ^ Vetr (www.vetr.com)
  3. ^ Zacks Investment Research (www.zacks.com)
  4. ^ the SEC website (www.sec.gov)
  5. ^ here (www.sec.gov)
  6. ^ NYSE:PSX (www.marketbeat.com)
  7. ^ MarketBeat.com’s FREE daily email newsletter (zolmax.com)



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