PFG Investments LLC Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

PFG Investments LLC cut its stake in Phillips 66 (NYSE:PSX) by 3.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,541 shares of the oil and gas company’s stock after selling 589 shares during the period. PFG Investments LLC’s holdings in Phillips 66 were worth $1,911,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the third quarter worth approximately $26,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth approximately $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PSX shares. Raymond James lifted 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. Barclays decreased their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Bank of America started coverage on shares of 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 equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Trading Down 0.2 %

Shares of Phillips 66 stock opened at $128.17 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market capitalization of $54.34 billion, a P/E ratio of 9.86, a PEG ratio of 5.61 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company’s fifty day moving average is $132.43 and its two-hundred day moving average is $139.03.

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

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.