Brown Brothers Harriman & Co. Sells 103 Shares of Phillips 66 (NYSE:PSX)

Brown Brothers Harriman & Co. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,914 shares of the oil and gas company’s stock after selling 103 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Phillips 66 were worth $411,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the second quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. Argus reissued a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.29.

Phillips 66 Stock Up 0.8 %

Shares of NYSE PSX opened at $128.30 on Wednesday. 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 business has a 50-day moving average of $135.53 and a 200-day moving average of $143.96. The firm has a market capitalization of $53.70 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 4.53 and a beta of 1.33. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

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, topping analysts’ consensus estimates 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 business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 EPS. Sell-side analysts expect that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

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.