Phoenix Financial Ltd. Sells 2,663 Shares of Phillips 66 $PSX

Phoenix Financial Ltd. reduced its stake in shares of Phillips 66 (NYSE:PSX) by 47.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 2,932 shares of the oil and gas company’s stock after selling 2,663 shares during the period. Phoenix Financial Ltd.’s holdings in Phillips 66 were worth $349,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares in the last quarter. GAMMA Investing LLC increased its holdings in Phillips 66 by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock worth $1,190,000 after purchasing an additional 1,268 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in Phillips 66 by 6.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 169,238 shares of the oil and gas company’s stock worth $20,898,000 after purchasing an additional 10,351 shares in the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of Phillips 66 by 2.1% in the first quarter. YHB Investment Advisors Inc. now owns 13,165 shares of the oil and gas company’s stock valued at $1,626,000 after acquiring an additional 273 shares in the last quarter. Finally, S.A. Mason LLC grew its holdings in shares of Phillips 66 by 5.7% in the first quarter. S.A. Mason LLC now owns 4,839 shares of the oil and gas company’s stock valued at $598,000 after acquiring an additional 260 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PSX shares. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Morgan Stanley upped their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Evercore ISI upped their target price on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $131.23 on Thursday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The business’s 50 day simple moving average is $131.02 and its 200 day simple moving average is $121.23. The company has a market cap of $53.03 billion, a price-to-earnings ratio of 31.55, a PEG ratio of 1.79 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the prior year, the business earned $2.31 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio is currently 115.38%.

About Phillips 66

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.