Phillips 66 $PSX Stock Holdings Lowered by US Bancorp DE

US Bancorp DE reduced its holdings in Phillips 66 (NYSE:PSX) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 246,576 shares of the oil and gas company’s stock after selling 1,098 shares during the quarter. US Bancorp DE owned 0.06% of Phillips 66 worth $29,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PSX. Elliott Investment Management L.P. raised its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock valued at $19,625,000 after acquiring an additional 26,825 shares during the period. Chronos Wealth Management LLC acquired a new stake in shares of Phillips 66 during the second quarter valued at approximately $281,000. Alta Advisers Ltd acquired a new stake in shares of Phillips 66 during the first quarter valued at approximately $253,000. Finally, Sustainable Insight Capital Management LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at approximately $1,457,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

PSX stock opened at $127.01 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a P/E/G ratio of 1.92 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The firm has a 50 day moving average of $129.51 and a two-hundred day moving average of $120.63.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the previous year, the firm posted $2.31 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 115.38%.

Insider Buying and Selling at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a report on Wednesday, June 18th. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.75.

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.