Phillips 66 (NYSE:PSX) Holdings Trimmed by Searle & CO.

Searle & CO. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 20.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,284 shares of the oil and gas company’s stock after selling 2,099 shares during the quarter. Searle & CO.’s holdings in Phillips 66 were worth $1,089,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at about $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 1.5 %

Shares of Phillips 66 stock traded down $1.93 during trading on Wednesday, reaching $129.50. The stock had a trading volume of 398,000 shares, compared to its average volume of 2,665,589. 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 company has a market capitalization of $54.90 billion, a price-to-earnings ratio of 9.98, a P/E/G ratio of 5.68 and a beta of 1.33. The stock has a fifty day moving average price of $133.02 and a two-hundred day moving average price of $139.65. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.87 earnings per share. Sell-side analysts predict that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analyst Weigh In

PSX has been the subject of several recent research reports. Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company dropped their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Bank of America started coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

About Phillips 66

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.