Buck Wealth Strategies LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

Buck Wealth Strategies LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 9.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,685 shares of the oil and gas company’s stock after selling 4,678 shares during the period. Buck Wealth Strategies LLC’s holdings in Phillips 66 were worth $5,742,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Phillips 66 in the 1st quarter worth approximately $25,000. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the second quarter worth $34,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.2 %

PSX opened at $127.68 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $52.73 billion, a P/E ratio of 16.39, a P/E/G ratio of 4.19 and a beta of 1.33. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. The business has a fifty day simple moving average of $129.87 and a 200-day simple moving average of $136.21.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.63 EPS. On average, equities analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is presently 59.05%.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSX shares. Mizuho reduced their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.