Phillips 66 (NYSE:PSX) Shares Sold by BNC Wealth Management LLC

BNC Wealth Management LLC lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 94.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,647 shares of the oil and gas company's stock after selling 30,391 shares during the quarter. BNC Wealth Management LLC's holdings in Phillips 66 were worth $217,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter worth about $25,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the third quarter worth about $26,000. Bank & Trust Co purchased a new position in shares of Phillips 66 during the second quarter worth about $31,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the third quarter worth about $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter worth about $34,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSX. Wells Fargo & Company dropped their price objective on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target on the stock. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Barclays lowered their price target on Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 8th. Finally, TD Cowen lowered their price target on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average price target of $150.38.

Phillips 66 Stock Performance

NYSE:PSX traded down $1.73 during mid-day trading on Thursday, reaching $126.17. The stock had a trading volume of 648,640 shares, compared to its average volume of 2,660,970. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $52.11 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The business has a 50 day simple moving average of $130.59 and a 200 day simple moving average of $137.00.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.65%. Phillips 66's payout ratio is 59.05%.

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.