Mattern Wealth Management LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Mattern Wealth Management LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 39.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,907 shares of the oil and gas company’s stock after selling 13,715 shares during the quarter. Mattern Wealth Management LLC’s holdings in Phillips 66 were worth $2,748,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PSX. Ballentine Partners LLC raised its stake in shares of Phillips 66 by 3.9% in the first quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 110 shares during the period. Global Assets Advisory LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at $4,696,000. Gateway Investment Advisers LLC raised its stake in shares of Phillips 66 by 19.8% in the first quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock valued at $1,912,000 after acquiring an additional 1,934 shares during the period. Community Bank of Raymore raised its stake in shares of Phillips 66 by 25.6% in the first quarter. Community Bank of Raymore now owns 1,962 shares of the oil and gas company’s stock valued at $320,000 after acquiring an additional 400 shares during the period. Finally, West Paces Advisors Inc. grew its holdings in shares of Phillips 66 by 4.0% in the first quarter. West Paces Advisors Inc. now owns 4,518 shares of the oil and gas company’s stock worth $738,000 after purchasing an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX traded down $0.23 during trading on Tuesday, reaching $131.09. The stock had a trading volume of 351,424 shares, compared to its average volume of 2,668,887. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a market capitalization of $54.87 billion, a P/E ratio of 11.26, a PEG ratio of 5.68 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $133.09 and its 200 day simple moving average is $139.92.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $3.87 EPS. As a group, research analysts expect that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 39.45%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Barclays cut their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.50.

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.