Moloney Securities Asset Management LLC Reduces Stake in Phillips 66 (NYSE:PSX)

Moloney Securities Asset Management LLC lowered its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 72.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,581 shares of the oil and gas company's stock after selling 6,729 shares during the period. Moloney Securities Asset Management LLC's holdings in Phillips 66 were worth $339,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 in the 2nd quarter worth approximately $17,670,000. M&G Plc bought a new stake in Phillips 66 during the 2nd quarter worth approximately $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 during the 1st quarter worth approximately $3,596,000. Meeder Asset Management Inc. bought a new stake in Phillips 66 during the 1st quarter worth approximately $1,283,000. Finally, Cetera Investment Advisers raised its stake in Phillips 66 by 318.9% during the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company's stock worth $23,284,000 after acquiring an additional 108,515 shares during the period. Institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business's 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 owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on PSX shares. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $150.38.

Phillips 66 Trading Down 1.0 %

NYSE PSX traded down $1.22 on Thursday, hitting $126.68. 1,615,963 shares of the stock were exchanged, compared to its average volume of 2,665,515. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. The firm has a market capitalization of $52.32 billion, a P/E ratio of 16.26, a P/E/G ratio of 3.94 and a beta of 1.33. The stock has a fifty day moving average price of $130.59 and a two-hundred day moving average price of $137.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the company earned $4.63 earnings per share. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts forecast that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. Phillips 66's payout ratio is 59.05%.

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.