Signaturefd LLC Sells 801 Shares of Phillips 66 (NYSE:PSX)

Signaturefd LLC decreased its position in Phillips 66 (NYSE:PSX) by 7.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,655 shares of the oil and gas company’s stock after selling 801 shares during the period. Signaturefd LLC’s holdings in Phillips 66 were worth $1,269,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in Phillips 66 in the second quarter valued at about $17,670,000. M&G Plc acquired a new position in Phillips 66 in the second quarter valued at about $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 in the first quarter valued at about $3,596,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after buying an additional 39,775 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Phillips 66 by 69.8% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after purchasing an additional 15,542 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $129.12 on Thursday. The business has a fifty day simple moving average of $132.85 and a 200 day simple moving average of $139.57. The company has a market capitalization of $54.74 billion, a PE ratio of 9.93, a price-to-earnings-growth ratio of 5.68 and a beta of 1.33. Phillips 66 has a 1 year low of $107.85 and a 1 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 data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share 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 company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.87 EPS. Research analysts expect that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.56%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PSX. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Mizuho decreased their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.50.

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.