Phillips 66 $PSX Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. lowered its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 4.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 19,219 shares of the oil and gas company’s stock after selling 896 shares during the period. Argonautica Private Wealth Management Inc.’s holdings in Phillips 66 were worth $2,293,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wolff Wiese Magana LLC raised its stake 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. purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, Director Sigmund L. Cornelius acquired 500 shares of the business’s stock in a transaction on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 can be found here. Insiders have purchased a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $128.58 on Wednesday. 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 has a twelve month low of $91.01 and a twelve month high of $142.35. The business has a 50-day moving average price of $130.84 and a 200 day moving average price of $121.16. The firm has a market cap of $51.96 billion, a PE ratio of 30.91, a P/E/G ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSXGet Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share 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 firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the previous year, the business earned $2.31 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PSX. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Wells Fargo & Company began coverage on Phillips 66 in a research note on Friday, October 17th. They set an “overweight” rating and a $154.00 price objective for the company. Scotiabank reiterated a “sector perform” rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Finally, Mizuho lifted their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research note on Monday, September 15th. 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 company’s stock. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Check Out Our Latest Report on PSX

Phillips 66 Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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