GPS Wealth Strategies Group LLC Lowers Stake in Phillips 66 (NYSE:PSX)

GPS Wealth Strategies Group LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 6.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,101 shares of the oil and gas company’s stock after selling 1,403 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Phillips 66 were worth $3,120,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 in the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 in the fourth quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter worth $28,000. Finally, First United Bank & Trust purchased a new position in shares of Phillips 66 in the fourth quarter valued at $31,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $3.04 on Wednesday, hitting $137.70. The stock had a trading volume of 2,129,303 shares, compared to its average volume of 2,660,125. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm’s 50 day moving average price is $138.15 and its 200-day moving average price is $146.04. The company has a market capitalization of $58.38 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 2.37 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the prior year, the business posted $3.87 EPS. Phillips 66’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 9.53 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Argus reiterated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. Scotiabank reduced their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Finally, TD Cowen increased their price objective on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.38.

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.