Venturi Wealth Management LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Venturi Wealth Management LLC cut its stake in Phillips 66 (NYSE:PSX) by 52.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,728 shares of the oil and gas company’s stock after selling 5,204 shares during the quarter. Venturi Wealth Management LLC’s holdings in Phillips 66 were worth $621,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in shares of Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares in the last quarter. Advisory Alpha LLC increased its holdings in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its stake in shares of Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after acquiring an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC lifted its holdings in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Mizuho lowered their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Finally, Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Down 0.2 %

NYSE PSX opened at $127.68 on Wednesday. Phillips 66 has a 1-year low of $111.90 and a 1-year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $129.87 and its two-hundred day moving average is $136.21. The company has a market capitalization of $52.73 billion, a price-to-earnings ratio of 16.39, a PEG ratio of 4.12 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.63 earnings per share. Equities analysts forecast that Phillips 66 will post 7.68 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Insider Buying and Selling at Phillips 66

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