SteelPeak Wealth LLC Lowers Stake in Phillips 66 (NYSE:PSX)

SteelPeak Wealth LLC decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 74.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,028 shares of the oil and gas company's stock after selling 44,482 shares during the quarter. SteelPeak Wealth LLC's holdings in Phillips 66 were worth $1,975,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSX. Boston Partners increased its position in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company's stock valued at $467,743,000 after purchasing an additional 1,408,954 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Phillips 66 by 1,087.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company's stock valued at $70,563,000 after purchasing an additional 395,617 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Transactions at Phillips 66

In related 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 value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares of the company's stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $0.25 on Thursday, hitting $121.82. 2,698,673 shares of the company traded hands, compared to its average volume of 2,678,508. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market capitalization of $50.99 billion, a P/E ratio of 15.67, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The business has a 50-day simple moving average of $131.80 and a 200 day simple moving average of $138.20. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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 firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 EPS. Research analysts expect that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced 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 3.78%. Phillips 66's dividend payout ratio is 59.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Barclays reduced their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 8th. Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus target price of $151.00.

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.