Phillips 66 (NYSE:PSX) Shares Sold by Covestor Ltd

Covestor Ltd lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 64.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 422 shares of the oil and gas company’s stock after selling 768 shares during the period. Covestor Ltd’s holdings in Phillips 66 were worth $69,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PSX. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the 1st quarter worth $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in Phillips 66 during the 4th quarter worth $27,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 during the 1st quarter worth $28,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the 4th quarter worth $31,000. Finally, Ruedi Wealth Management Inc. lifted its stake in shares of Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $138.17 on Thursday. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $58.58 billion, a P/E ratio of 10.63, a PEG ratio of 2.27 and a beta of 1.34. The company has a 50-day moving average of $139.31 and a two-hundred day moving average of $145.35. Phillips 66 has a 12-month low of $105.56 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm posted $4.21 EPS. As a group, research analysts predict that Phillips 66 will post 10.06 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Tuesday, August 20th. Phillips 66’s dividend payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSX shares. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Barclays cut their price target on shares of Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Raymond James cut their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.23.

Insider Activity

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

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.