Cary Street Partners Investment Advisory LLC Sells 648 Shares of Phillips 66 (NYSE:PSX)

Cary Street Partners Investment Advisory LLC cut its stake in Phillips 66 (NYSE:PSX) by 4.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,504 shares of the oil and gas company’s stock after selling 648 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Phillips 66 were worth $1,193,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in Phillips 66 by 0.3% in the 1st quarter. BlackRock Inc. now owns 37,428,804 shares of the oil and gas company’s stock valued at $3,794,532,000 after purchasing an additional 102,139 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after acquiring an additional 9,969,418 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Phillips 66 by 44.3% during the 1st quarter. Wellington Management Group LLP now owns 8,623,978 shares of the oil and gas company’s stock worth $874,299,000 after acquiring an additional 2,646,979 shares during the period. Barclays PLC lifted its holdings in shares of Phillips 66 by 416.9% during the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after acquiring an additional 6,009,826 shares during the period. Finally, Morgan Stanley lifted its holdings in shares of Phillips 66 by 16.2% during the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock worth $724,566,000 after acquiring an additional 968,055 shares during the period. 71.83% of the stock is owned by institutional investors.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,000 shares of Phillips 66 stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $117.02, for a total transaction of $819,140.00. Following the completion of the sale, the vice president now owns 6,682 shares in the company, valued at approximately $781,927.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Joseph Scott Pruitt sold 7,000 shares of Phillips 66 stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $117.02, for a total transaction of $819,140.00. Following the completion of the sale, the vice president now owns 6,682 shares in the company, valued at approximately $781,927.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 30,800 shares of Phillips 66 stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $120.97, for a total transaction of $3,725,876.00. Following the sale, the chief financial officer now owns 103,803 shares of the company’s stock, valued at approximately $12,557,048.91. The disclosure for this sale can be found here. Insiders sold a total of 50,770 shares of company stock worth $6,158,614 in the last quarter. 4.57% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PSX has been the subject of a number of analyst reports. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $125.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, September 1st. Raymond James dropped their target price on shares of Phillips 66 from $133.00 to $128.00 and set an “outperform” rating for the company in a research report on Friday, October 6th. Mizuho dropped their target price on shares of Phillips 66 from $131.00 to $116.00 and set a “neutral” rating for the company in a research report on Friday, October 6th. Piper Sandler dropped their target price on shares of Phillips 66 from $138.00 to $134.00 and set an “overweight” rating for the company in a research report on Thursday, October 5th. Finally, Wells Fargo & Company increased their target price on shares of Phillips 66 from $130.00 to $144.00 and gave the stock an “overweight” rating in a research report on Friday, September 8th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Phillips 66 Trading Up 2.5 %

PSX opened at $116.37 on Friday. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $51.20 billion, a PE ratio of 7.02, a PEG ratio of 0.39 and a beta of 1.34. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $125.19. The firm has a 50-day moving average price of $115.72 and a two-hundred day moving average price of $107.20.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 27th. The oil and gas company reported $4.63 earnings per share for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a net margin of 5.05% and a return on equity of 23.32%. During the same quarter last year, the firm posted $6.46 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Thursday, November 16th. Phillips 66’s dividend payout ratio is 25.33%.

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.