Armor Investment Advisors LLC Sells 5,340 Shares of Phillips 66 (NYSE:PSX)

Armor Investment Advisors LLC cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 49.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,464 shares of the oil and gas company's stock after selling 5,340 shares during the quarter. Armor Investment Advisors LLC's holdings in Phillips 66 were worth $718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norden Group LLC raised its position in shares of Phillips 66 by 73.2% in the 1st quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company's stock worth $611,000 after acquiring an additional 1,582 shares in the last quarter. Jennison Associates LLC raised its position in shares of Phillips 66 by 37.6% in the 1st quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company's stock worth $1,264,000 after acquiring an additional 2,115 shares in the last quarter. Whittier Trust Co. raised its position in shares of Phillips 66 by 5.9% in the 1st quarter. Whittier Trust Co. now owns 3,210 shares of the oil and gas company's stock worth $524,000 after acquiring an additional 180 shares in the last quarter. Commerce Bank raised its position in shares of Phillips 66 by 3.7% in the 1st quarter. Commerce Bank now owns 55,410 shares of the oil and gas company's stock worth $9,051,000 after acquiring an additional 1,979 shares in the last quarter. Finally, Rehmann Capital Advisory Group bought a new position in shares of Phillips 66 in the 1st quarter worth about $243,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on PSX shares. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price for the company. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a "peer perform" rating for the company. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Monday. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Finally, Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus target price of $150.38.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on 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 owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $6.07 during midday trading on Wednesday, reaching $127.91. The company's stock had a trading volume of 2,625,593 shares, compared to its average volume of 2,670,234. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a 50 day moving average price of $130.73 and a 200-day moving average price of $137.07. The stock has a market capitalization of $52.83 billion, a P/E ratio of 16.31, a PEG ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the business earned $4.63 earnings per share. Phillips 66's revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Phillips 66 Company 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.