Belpointe Asset Management LLC Sells 2,212 Shares of Phillips 66 (NYSE:PSX)

Belpointe Asset Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 25.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,531 shares of the oil and gas company’s stock after selling 2,212 shares during the period. Belpointe Asset Management LLC’s holdings in Phillips 66 were worth $922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Madison Park Capital Advisors LLC lifted its stake in Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Premier Path Wealth Partners LLC boosted its stake in Phillips 66 by 1.6% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock worth $729,000 after acquiring an additional 71 shares during the last quarter. Warwick Investment Management Inc. grew its holdings in Phillips 66 by 3.1% during the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares during the period. MV Capital Management Inc. grew its holdings in Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 73 shares during the period. Finally, HCR Wealth Advisors increased its stake in Phillips 66 by 2.9% in the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock valued at $351,000 after purchasing an additional 74 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Wells Fargo & Company lifted their price objective on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, Scotiabank reduced their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.85.

Phillips 66 Trading Down 2.6 %

Shares of NYSE:PSX opened at $128.89 on Friday. The company’s 50-day moving average price is $137.42 and its two-hundred day moving average price is $144.93. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $53.95 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 earnings per share. On average, equities analysts forecast that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.57%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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 in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.