Phillips 66 (NYSE:PSX) Shares Sold by Payden & Rygel

Payden & Rygel reduced its position in Phillips 66 (NYSE:PSX) by 15.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,100 shares of the oil and gas company’s stock after selling 13,900 shares during the quarter. Payden & Rygel’s holdings in Phillips 66 were worth $7,258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PSX. Country Trust Bank lifted its stake in Phillips 66 by 1,315.8% during the second quarter. Country Trust Bank now owns 269 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 250 shares during the last quarter. Fiduciary Alliance LLC purchased a new stake in Phillips 66 in the second quarter valued at approximately $30,000. Oliver Lagore Vanvalin Investment Group lifted its stake in Phillips 66 by 504.0% in the first quarter. Oliver Lagore Vanvalin Investment Group now owns 302 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 252 shares during the last quarter. Worth Asset Management LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $32,000. Finally, Achmea Investment Management B.V. purchased a new stake in Phillips 66 in the first quarter valued at approximately $40,000. 71.83% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $124.41, for a total transaction of $1,613,597.70. Following the transaction, the executive vice president now directly owns 80,009 shares in the company, valued at $9,953,919.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Kevin J. Mitchell sold 30,800 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $120.97, for a total value of $3,725,876.00. Following the transaction, the chief financial officer now directly owns 103,803 shares in the company, valued at approximately $12,557,048.91. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 12,970 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total value of $1,613,597.70. Following the completion of the sale, the executive vice president now owns 80,009 shares of the company’s stock, valued at approximately $9,953,919.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,770 shares of company stock worth $6,158,614. 4.57% of the stock is owned by company insiders.

Phillips 66 Price Performance

Phillips 66 stock traded up $2.84 during trading hours on Friday, hitting $116.37. The stock had a trading volume of 3,354,387 shares, compared to its average volume of 2,873,967. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 0.96. The stock has a market capitalization of $51.20 billion, a price-to-earnings 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 stock’s fifty day moving average is $115.72 and its two-hundred day moving average is $107.20.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 period last year, the business posted $6.46 earnings per share. As a group, analysts predict that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 price objective for the company in a research note on Tuesday, October 31st. Argus boosted their price objective on Phillips 66 from $125.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, August 14th. StockNews.com started coverage on Phillips 66 in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Wells Fargo & Company boosted their target price on Phillips 66 from $130.00 to $144.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Finally, Piper Sandler dropped their target price on Phillips 66 from $138.00 to $134.00 and set an “overweight” rating on the stock in a report on Thursday, October 5th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

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.