Venturi Wealth Management LLC trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 52.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,728 shares of the oil and gas company's stock after selling 5,204 shares during the period. Venturi Wealth Management LLC's holdings in Phillips 66 were worth $621,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at about $25,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter worth $26,000. Bank & Trust Co bought a new stake in Phillips 66 during the 2nd quarter valued at $31,000. Values First Advisors Inc. purchased a new stake in Phillips 66 during the 3rd quarter valued at $30,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth $34,000. Institutional investors own 76.93% of the company's stock.
Phillips 66 Stock Up 1.7 %
PSX stock traded up $2.22 on Wednesday, reaching $129.92. 1,962,006 shares of the company traded hands, compared to its average volume of 2,666,202. The firm has a fifty day simple moving average of $129.73 and a 200-day simple moving average of $136.04. The company has a market cap of $53.66 billion, a P/E ratio of 16.38, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. Phillips 66 has a one year low of $111.90 and a one 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 announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 EPS. Research analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.
Phillips 66 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's payout ratio is 59.05%.
Insider Activity at Phillips 66
In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company's stock in a transaction 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 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 SEC, which is available through the SEC website. 0.22% of the stock is owned by insiders.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Raymond James increased 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 target on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.69.
Get Our Latest Report on Phillips 66
Phillips 66 Profile
(
Free Report)
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.
Read More
Before you consider Phillips 66, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phillips 66 wasn't on the list.
While Phillips 66 currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
