Private Advisor Group LLC Sells 2,353 Shares of Phillips 66 (NYSE:PSX)

Private Advisor Group LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 5.2% in the second quarter, Holdings Channel.com reports. The fund owned 43,019 shares of the oil and gas company’s stock after selling 2,353 shares during the quarter. Private Advisor Group LLC’s holdings in Phillips 66 were worth $6,073,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at $1,910,000. Gryphon Financial Partners LLC boosted its position in Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 426 shares during the period. AGF Management Ltd. grew its stake in Phillips 66 by 328.4% in the 4th quarter. AGF Management Ltd. now owns 30,803 shares of the oil and gas company’s stock worth $4,101,000 after acquiring an additional 23,612 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Phillips 66 by 109.5% during the fourth quarter. QRG Capital Management Inc. now owns 42,771 shares of the oil and gas company’s stock worth $5,695,000 after acquiring an additional 22,351 shares during the period. Finally, Envestnet Portfolio Solutions Inc. raised its stake in shares of Phillips 66 by 3.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 82,338 shares of the oil and gas company’s stock valued at $10,962,000 after acquiring an additional 2,992 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $127.95 on Tuesday. The company has a 50 day moving average of $136.90 and a two-hundred day moving average of $144.73. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a market cap of $53.56 billion, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the firm earned $3.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. As a group, analysts predict that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Raymond James increased their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Mizuho cut their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Scotiabank cut their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Finally, Argus reaffirmed a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $157.85.

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 that occurred on 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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company 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.