Phillips 66 $PSX Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 17.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,863 shares of the oil and gas company’s stock after selling 4,473 shares during the quarter. Intech Investment Management LLC’s holdings in Phillips 66 were worth $2,489,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the last quarter. Pinpoint Asset Management Ltd purchased a new stake in Phillips 66 during the 1st quarter worth about $29,000. Webster Bank N. A. increased its position in Phillips 66 by 58.8% during the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares in the last quarter. Nova Wealth Management Inc. acquired a new position in Phillips 66 in the 1st quarter valued at about $37,000. Finally, GKV Capital Management Co. Inc. lifted its holdings in Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. The trade was a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 38,786 shares of company stock worth $5,348,075. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 2.9%

Shares of PSX opened at $134.40 on Thursday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25. The company’s fifty day moving average is $134.28 and its two-hundred day moving average is $126.70. The firm has a market cap of $54.15 billion, a PE ratio of 36.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping 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 business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the prior year, the firm posted $2.04 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and set a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Morgan Stanley lifted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. One investment 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 company has a consensus rating of “Hold” and a consensus price target of $145.71.

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.