Phillips 66 (NYSE:PSX) Shares Sold by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 17.1% in the 1st quarter, Holdings Channel reports. The fund owned 3,155 shares of the oil and gas company’s stock after selling 653 shares during the period. OneAscent Wealth Management LLC’s holdings in Phillips 66 were worth $515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 during the 4th quarter worth approximately $27,000. First United Bank & Trust bought a new position in shares of Phillips 66 in the 4th quarter worth about $31,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 during the 4th quarter worth $33,000. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at $36,000. Finally, Gladius Capital Management LP bought a new stake in shares of Phillips 66 during the fourth quarter valued at about $36,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PSX shares. Argus reissued a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Mizuho decreased their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Barclays decreased their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, The Goldman Sachs Group raised their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.79.

Phillips 66 Stock Performance

PSX traded up $1.77 during trading on Friday, hitting $141.17. The stock had a trading volume of 10,211,532 shares, compared to its average volume of 2,338,853. The firm has a market cap of $59.85 billion, a PE ratio of 10.86, a P/E/G ratio of 2.10 and a beta of 1.37. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12 month low of $93.40 and a 12 month high of $174.08. The company has a 50 day simple moving average of $142.91 and a 200-day simple moving average of $144.57.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the firm posted $4.21 earnings per share. Analysts expect that Phillips 66 will post 11.08 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.26%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 35.38%.

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.