Phillips 66 (NYSE:PSX) Shares Sold by Venture Visionary Partners LLC

Venture Visionary Partners LLC cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,882 shares of the oil and gas company's stock after selling 5,190 shares during the period. Venture Visionary Partners LLC's holdings in Phillips 66 were worth $8,923,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Douglas Lane & Associates LLC purchased a new stake in shares of Phillips 66 during the 1st quarter valued at $320,000. Cooper Financial Group increased its holdings in Phillips 66 by 10.4% in the 1st quarter. Cooper Financial Group now owns 1,745 shares of the oil and gas company's stock worth $285,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC increased its holdings in Phillips 66 by 3.9% in the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company's stock worth $476,000 after acquiring an additional 110 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Phillips 66 in the 1st quarter worth about $4,696,000. Finally, Strategic Planning Group LLC increased its holdings in Phillips 66 by 14.8% in the 1st quarter. Strategic Planning Group LLC now owns 18,774 shares of the oil and gas company's stock worth $3,067,000 after acquiring an additional 2,414 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on PSX shares. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research note on Monday, September 16th. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They set a "peer perform" rating on the stock. Mizuho reduced their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, Barclays cut their target price on Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating on the stock in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.50.

Phillips 66 Stock Performance

Shares of PSX stock traded down $1.28 during mid-day trading on Monday, reaching $131.32. The stock had a trading volume of 1,287,825 shares, compared to its average volume of 2,680,303. The business's fifty day moving average is $133.09 and its 200-day moving average is $139.92. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $55.67 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 5.75 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the prior year, the business posted $3.87 earnings per share. Phillips 66's revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts forecast that Phillips 66 will post 7.85 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.50%. Phillips 66's dividend payout ratio (DPR) is 35.38%.

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.