Perennial Investment Advisors LLC Sells 447 Shares of Phillips 66 (NYSE:PSX)

Perennial Investment Advisors LLC reduced its position in Phillips 66 (NYSE:PSX) by 20.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,755 shares of the oil and gas company’s stock after selling 447 shares during the period. Perennial Investment Advisors LLC’s holdings in Phillips 66 were worth $248,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSX. Excalibur Management Corp raised its position in shares of Phillips 66 by 3.5% in the second quarter. Excalibur Management Corp now owns 3,443 shares of the oil and gas company’s stock valued at $486,000 after purchasing an additional 118 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Phillips 66 by 68.2% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 3,692 shares of the oil and gas company’s stock valued at $521,000 after acquiring an additional 1,497 shares during the period. Sierra Summit Advisors LLC bought a new stake in Phillips 66 during the 2nd quarter valued at $6,262,000. Dimensional Fund Advisors LP lifted its position in shares of Phillips 66 by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its holdings in shares of Phillips 66 by 4.6% in the second quarter. Retirement Planning Co of New England Inc. now owns 5,976 shares of the oil and gas company’s stock worth $844,000 after acquiring an additional 263 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.8 %

NYSE PSX opened at $128.30 on Wednesday. The stock’s 50-day simple moving average is $135.53 and its two-hundred day simple moving average is $143.96. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $53.70 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 EPS. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. Research analysts forecast that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank lowered their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.29.

About Phillips 66

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.