Everett Harris & Co. CA Has $2.13 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Everett Harris & Co. CA trimmed its holdings in Phillips 66 (NYSE:PSX) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,178 shares of the oil and gas company’s stock after selling 475 shares during the quarter. Everett Harris & Co. CA’s holdings in Phillips 66 were worth $2,127,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MJP Associates Inc. ADV bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $247,000. Douglas Lane & Associates LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $320,000. Cooper Financial Group raised its position in shares of Phillips 66 by 10.4% during the first quarter. Cooper Financial Group now owns 1,745 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 164 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Phillips 66 by 3.9% during the first quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock valued at $476,000 after acquiring an additional 110 shares during the period. Finally, Southland Equity Partners LLC boosted its holdings in Phillips 66 by 16.1% in the first quarter. Southland Equity Partners LLC now owns 2,360 shares of the oil and gas company’s stock valued at $385,000 after acquiring an additional 328 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Trading Down 0.6 %

NYSE:PSX opened at $132.60 on Friday. The business’s 50-day simple moving average is $133.18 and its 200-day simple moving average is $140.43. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $56.22 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the firm posted $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Phillips 66 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.