Phillips 66 (NYSE:PSX) Shares Sold by Powers Advisory Group LLC

Powers Advisory Group LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,028 shares of the oil and gas company’s stock after selling 115 shares during the period. Powers Advisory Group LLC’s holdings in Phillips 66 were worth $398,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 during the 1st quarter worth $26,000. Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter worth about $28,000. Ruedi Wealth Management Inc. raised its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $26,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday. They set a “buy” rating and a $156.00 target price on the stock. Wolfe Research initiated coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays lowered their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $149.50.

Phillips 66 Price Performance

PSX stock opened at $132.60 on Friday. The business has a 50 day simple moving average of $133.18 and a 200-day simple moving average of $140.43. The company has a market capitalization of $56.22 billion, a P/E ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the firm posted $3.87 EPS. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, equities analysts anticipate that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

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.