Phillips 66 $PSX Stock Position Decreased by Delta Investment Management LLC

Delta Investment Management LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 9.0% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,813 shares of the oil and gas company’s stock after selling 179 shares during the quarter. Delta Investment Management LLC’s holdings in Phillips 66 were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC grew its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd bought a new stake in shares of Phillips 66 during the 1st quarter valued at about $29,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were 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 position. The disclosure for this sale can be found here. Insiders acquired 9,850 shares of company stock valued at $1,188,910 in the last ninety days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 0.3%

PSX stock opened at $135.40 on Tuesday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The firm has a market cap of $54.72 billion, a PE ratio of 32.55, a P/E/G ratio of 1.77 and a beta of 1.11. The firm has a 50 day simple moving average of $131.75 and a 200 day simple moving average of $122.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its earnings results 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 net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the business earned $2.31 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio is currently 115.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on PSX shares. TD Cowen boosted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Wells Fargo & Company started coverage on shares of Phillips 66 in a research note on Friday, October 17th. They set an “overweight” rating and a $154.00 target price for the company. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. UBS Group boosted their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Mizuho boosted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

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.