Phillips 66 $PSX Shares Sold by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. decreased its holdings in Phillips 66 (NYSE:PSX) by 13.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,367 shares of the oil and gas company’s stock after selling 2,866 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Phillips 66 were worth $3,346,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Board of the Pension Protection Fund acquired a new stake in shares of Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc boosted its position in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $27,000. NFSG Corp raised its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Finally, SWAN Capital LLC lifted its stake in shares of Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Argus increased their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Guggenheim raised Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. UBS Group restated a “buy” rating and issued a $212.00 price target on shares of Phillips 66 in a report on Monday, June 15th. Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 31st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $196.06.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This represents a 23.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 2.8%

Shares of Phillips 66 stock opened at $206.96 on Friday. The business has a 50-day moving average of $179.03 and a 200-day moving average of $165.49. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $82.97 billion, a PE ratio of 20.39, a P/E/G ratio of 0.26 and a beta of 0.69. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $207.14.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the previous year, the firm posted ($0.90) earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. As a group, equities analysts forecast that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s payout ratio is currently 50.05%.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.