City Center Advisors LLC Sells 1,532 Shares of Phillips 66 (NYSE:PSX)

City Center Advisors LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 43.0% during the 3rd quarter, Holdings Channel reports. The fund owned 2,029 shares of the oil and gas company’s stock after selling 1,532 shares during the quarter. City Center Advisors LLC’s holdings in Phillips 66 were worth $267,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 completion of the sale, the chief financial officer now 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 is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PSX. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank cut their price objective 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. TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.71.

Phillips 66 Stock Performance

Shares of PSX stock opened at $138.54 on Tuesday. The stock has a market cap of $58.73 billion, a P/E ratio of 10.66, a P/E/G ratio of 5.46 and a beta of 1.33. The company has a fifty day moving average price of $133.83 and a two-hundred day moving average price of $142.17. 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.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the business earned $3.87 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that Phillips 66 will post 8.21 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

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.