Phillips 66 (NYSE:PSX) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC lowered its stake in Phillips 66 (NYSE:PSXGet Rating) by 3.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,513 shares of the oil and gas company’s stock after selling 1,606 shares during the quarter. Advisory Services Network LLC’s holdings in Phillips 66 were worth $3,673,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of PSX. Dravo Bay LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. First Community Trust NA increased its stake in Phillips 66 by 60.6% during the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after buying an additional 126 shares during the period. Worth Asset Management LLC acquired a new position in Phillips 66 in the 1st quarter worth $32,000. Accel Wealth Management boosted its position in Phillips 66 by 127.4% in the 1st quarter. Accel Wealth Management now owns 357 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 200 shares during the last quarter. Finally, Godsey & Gibb Associates acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $33,000. 71.42% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $81.87 on Friday. Phillips 66 has a fifty-two week low of $63.19 and a fifty-two week high of $111.28. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The stock has a market cap of $39.38 billion, a P/E ratio of 7.05, a P/E/G ratio of 0.43 and a beta of 1.39. The firm’s 50-day simple moving average is $86.77 and its 200 day simple moving average is $88.30.

Phillips 66 (NYSE:PSXGet Rating) last posted its quarterly earnings data on Friday, July 29th. The oil and gas company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $5.92 by $0.85. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. The company had revenue of $49.31 billion during the quarter, compared to analyst estimates of $40.93 billion. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s quarterly revenue was up 76.8% on a year-over-year basis. Equities analysts expect that Phillips 66 will post 16.22 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 18th were given a dividend of $0.97 per share. The ex-dividend date of this dividend was Wednesday, August 17th. This represents a $3.88 dividend on an annualized basis and a yield of 4.74%. Phillips 66’s payout ratio is presently 33.42%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSX. The Goldman Sachs Group reissued a “buy” rating and issued a $109.00 price target on shares of Phillips 66 in a report on Friday, July 1st. Wolfe Research downgraded shares of Phillips 66 from an “outperform” rating to a “peer perform” rating in a research report on Wednesday. Morgan Stanley lifted their price target on shares of Phillips 66 from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, July 15th. Piper Sandler reduced their price objective on shares of Phillips 66 from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Monday. Finally, StockNews.com downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 10th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.79.

About Phillips 66

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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