Fortem Financial Group LLC Sells 635 Shares of Phillips 66 (NYSE:PSX)

Fortem Financial Group LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,231 shares of the oil and gas company’s stock after selling 635 shares during the period. Fortem Financial Group LLC’s holdings in Phillips 66 were worth $1,868,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PSX. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $559,435,000. Boston Partners increased its stake in shares of Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after buying an additional 3,494,878 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after acquiring an additional 2,209,043 shares in the last quarter. Wellington Management Group LLP lifted its stake in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $135.02 on Wednesday. The company has a market cap of $57.24 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 2.53 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock’s fifty day moving average price is $137.78 and its 200 day moving average price is $145.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $3.87 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Piper Sandler dropped their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Wells Fargo & Company boosted their price target on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday. Argus reaffirmed a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Scotiabank reduced their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.85.

Phillips 66 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.