Disciplined Investments LLC Lowers Stake in Phillips 66 $PSX

Disciplined Investments LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 11.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,594 shares of the oil and gas company’s stock after selling 6,154 shares during the quarter. Phillips 66 accounts for about 2.3% of Disciplined Investments LLC’s investment portfolio, making the stock its 13th largest position. Disciplined Investments LLC’s holdings in Phillips 66 were worth $5,439,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in PSX. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Invesco Ltd. increased its position in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Phillips 66 by 11.1% during the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after purchasing an additional 377,132 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 3.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after purchasing an additional 100,321 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PSX shares. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. TD Cowen upped their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Raymond James Financial reissued an “outperform” rating and set a $150.00 price target (up from $145.00) on shares of Phillips 66 in a research report on Friday. Wells Fargo & Company started coverage on shares of Phillips 66 in a research report on Friday. They set an “overweight” rating and a $154.00 price target for the company. Finally, Evercore ISI increased their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Stock Performance

PSX opened at $129.21 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $52.22 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The firm’s 50-day moving average price is $130.43 and its 200-day moving average price is $120.79.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (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 firm 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 company posted $2.31 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by 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.