Northeast Financial Consultants Inc Sells 480 Shares of Phillips 66 (NYSE:PSX)

Northeast Financial Consultants Inc lessened its position in Phillips 66 (NYSE:PSX) by 1.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,720 shares of the oil and gas company’s stock after selling 480 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Phillips 66 were worth $4,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Silver Lake Advisory LLC acquired a new position in shares of Phillips 66 during the second quarter worth approximately $280,000. Buck Wealth Strategies LLC acquired a new stake in shares of Phillips 66 in the second quarter worth $6,827,000. Brick & Kyle Associates increased its position in Phillips 66 by 3.0% during the second quarter. Brick & Kyle Associates now owns 54,160 shares of the oil and gas company’s stock worth $7,646,000 after acquiring an additional 1,598 shares during the period. Legal & General Group Plc raised its stake in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Finally, MBB Public Markets I LLC bought a new stake in Phillips 66 in the 2nd quarter valued at $4,475,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

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 stock was 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 owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Cowen dropped their price objective 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. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler lowered their price objective on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, September 20th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $154.21.

Phillips 66 Stock Up 0.3 %

Shares of NYSE:PSX opened at $131.05 on Friday. The company’s fifty day moving average is $134.30 and its 200-day moving average is $143.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a market capitalization of $54.85 billion, a PE ratio of 10.08, a P/E/G ratio of 5.22 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating 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 net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.87 earnings per share. Equities research analysts predict that Phillips 66 will post 8.27 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. 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.