Alta Capital Management LLC cut its holdings in Phillips 66 (NYSE:PSX) by 24.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 377,044 shares of the oil and gas company’s stock after selling 122,126 shares during the quarter. Phillips 66 makes up 2.7% of Alta Capital Management LLC’s portfolio, making the stock its 16th largest position. Alta Capital Management LLC owned 0.08% of Phillips 66 worth $38,609,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in PSX. Advisors Preferred LLC bought a new position in Phillips 66 in the second quarter valued at about $25,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the second quarter valued at about $26,000. Atwater Malick LLC bought a new position in Phillips 66 in the third quarter valued at about $27,000. Manchester Financial Inc. bought a new position in Phillips 66 in the second quarter valued at about $32,000. Finally, Coastal Capital Group Inc. bought a new position in Phillips 66 in the second quarter valued at about $37,000. Institutional investors own 68.74% of the company’s stock.
In other news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company’s stock.
Shares of PSX opened at $108.77 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $109.83. The stock has a market cap of $48.96 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 2.13 and a beta of 1.07. The stock’s 50-day moving average price is $103.37 and its two-hundred day moving average price is $96.02.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The firm had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. During the same quarter last year, the business earned $2.80 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 7.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.
Several equities analysts recently issued reports on PSX shares. Scotiabank started coverage on Phillips 66 in a report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. ValuEngine upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Raymond James raised their target price on Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Evercore ISI started coverage on Phillips 66 in a report on Wednesday, October 2nd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $114.80.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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