Metis Global Partners LLC Reduces Stock Position in Phillips 66 $PSX

Metis Global Partners LLC cut its position in Phillips 66 (NYSE:PSX) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,336 shares of the oil and gas company’s stock after selling 819 shares during the quarter. Metis Global Partners LLC’s holdings in Phillips 66 were worth $3,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the business. WealthTrust Axiom LLC increased its stake in Phillips 66 by 1.1% in the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares during the period. Wolff Wiese Magana LLC grew its position in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares during the last quarter. Magnus Financial Group LLC increased its stake in shares of Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after buying an additional 84 shares during the period. Biltmore Wealth Management LLC raised its holdings in shares of Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after acquiring an additional 85 shares in the last quarter. Finally, XML Financial LLC boosted its stake in shares of Phillips 66 by 0.5% during the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on PSX. TD Cowen lifted their target price on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI raised their price target on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Finally, Cowen restated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Price Performance

Shares of PSX opened at $137.80 on Friday. The stock’s 50 day moving average is $133.20 and its two-hundred day moving average is $124.81. Phillips 66 has a twelve month low of $91.01 and a twelve 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 firm has a market capitalization of $55.52 billion, a PE ratio of 37.65, a P/E/G ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same quarter in the prior year, the company earned $2.04 EPS. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The stock was purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is currently owned by company insiders.

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.