Catalyst Capital Advisors LLC Sells 22,804 Shares of Phillips 66 (NYSE:PSX)

Catalyst Capital Advisors LLC decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 98.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 366 shares of the oil and gas company's stock after selling 22,804 shares during the quarter. Catalyst Capital Advisors LLC's holdings in Phillips 66 were worth $48,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC boosted its stake in 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 worth $2,519,000 after acquiring an additional 74 shares during the last quarter. Catalyst Financial Partners LLC raised its holdings in 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 buying an additional 74 shares during the period. Advisory Alpha LLC raised its holdings in 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 worth $233,000 after buying an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company's stock worth $616,000 after buying an additional 77 shares during the period. Finally, Atomi Financial Group Inc. raised its holdings in Phillips 66 by 1.5% during the 1st quarter. Atomi Financial Group Inc. now owns 5,452 shares of the oil and gas company's stock worth $890,000 after buying an additional 80 shares during the period. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Raymond James raised their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Barclays lowered their price objective on shares of 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, Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average 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 that occurred 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 transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

PSX stock traded down $1.22 during midday trading on Thursday, reaching $126.68. The company had a trading volume of 1,615,963 shares, compared to its average volume of 2,665,515. The company has a market capitalization of $52.32 billion, a price-to-earnings ratio of 16.26, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33. The stock has a 50 day moving average price of $130.59 and a 200-day moving average price of $137.00. Phillips 66 has a 1-year low of $110.54 and a 1-year 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.

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 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 earnings per share. Equities research analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Monday, November 18th. 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.