Vanguard Capital Wealth Advisors Trims Position in Phillips 66 (NYSE:PSX)

Vanguard Capital Wealth Advisors lowered its holdings in Phillips 66 (NYSE:PSX) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,200 shares of the oil and gas company’s stock after selling 187 shares during the quarter. Vanguard Capital Wealth Advisors’ holdings in Phillips 66 were worth $686,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. increased its holdings in shares of Phillips 66 by 14.8% during the 3rd quarter. Federated Hermes Inc. now owns 74,805 shares of the oil and gas company’s stock valued at $8,988,000 after purchasing an additional 9,636 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Phillips 66 by 9.3% in the third quarter. O Shaughnessy Asset Management LLC now owns 47,872 shares of the oil and gas company’s stock worth $5,752,000 after acquiring an additional 4,065 shares during the period. Mutual Advisors LLC boosted its stake in shares of Phillips 66 by 2.9% during the 3rd quarter. Mutual Advisors LLC now owns 8,425 shares of the oil and gas company’s stock worth $1,012,000 after acquiring an additional 234 shares in the last quarter. Vinva Investment Management Ltd grew its position in shares of Phillips 66 by 66.8% during the 3rd quarter. Vinva Investment Management Ltd now owns 13,188 shares of the oil and gas company’s stock valued at $1,627,000 after acquiring an additional 5,281 shares during the period. Finally, Treasurer of the State of North Carolina raised its holdings in Phillips 66 by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 202,530 shares of the oil and gas company’s stock worth $24,334,000 after purchasing an additional 1,030 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.4 %

PSX stock traded up $0.56 during trading on Friday, reaching $139.96. 256,133 shares of the stock were exchanged, compared to its average volume of 2,714,522. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $59.34 billion, a price-to-earnings ratio of 10.72, a P/E/G ratio of 2.08 and a beta of 1.37. The business has a 50 day moving average price of $143.46 and a 200-day moving average price of $144.50. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the firm posted $4.21 EPS. On average, research analysts predict that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is 35.38%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSX. Scotiabank upped their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Mizuho dropped their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, TD Cowen lowered their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

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.