Phillips 66 (NYSE:PSX) Shares Sold by Country Club Bank

Country Club Bank cut its stake in Phillips 66 (NYSE:PSX) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,018 shares of the oil and gas company’s stock after selling 1,246 shares during the quarter. Country Club Bank’s holdings in Phillips 66 were worth $1,313,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $28,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $128.17 on Friday. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The stock has a market capitalization of $53.65 billion, a P/E ratio of 10.99, a PEG ratio of 5.61 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The business’s fifty day moving average price is $132.43 and its 200 day moving average price is $139.03.

Phillips 66 (NYSE:PSX) last issued its 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. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 39.45%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. TD Cowen cut their price objective 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. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

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.