Davis R M Inc. Sells 5,259 Shares of Phillips 66 $PSX

Davis R M Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 1.6% during the first quarter, Holdings Channel.com reports. The firm owned 318,620 shares of the oil and gas company’s stock after selling 5,259 shares during the quarter. Davis R M Inc.’s holdings in Phillips 66 were worth $58,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc increased its holdings in Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after purchasing an additional 8,783 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Phillips 66 by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after acquiring an additional 199,646 shares during the period. Truist Financial Corp boosted its stake in Phillips 66 by 1.6% during the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock worth $87,113,000 after acquiring an additional 10,585 shares in the last quarter. Horizon Investments LLC grew its holdings in Phillips 66 by 478.4% in the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after purchasing an additional 52,348 shares during the period. Finally, Royal Fund Management LLC grew its holdings in Phillips 66 by 20.6% in the fourth quarter. Royal Fund Management LLC now owns 53,901 shares of the oil and gas company’s stock worth $6,958,000 after purchasing an additional 9,214 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday. Jefferies Financial Group upped their price target on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Wolfe Research increased their price target on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a report on Monday, April 6th. Piper Sandler raised their price objective on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research note on Wednesday, April 8th. Finally, Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $198.72.

Insider Activity

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at $18,504,361.28. The trade was a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $211.49 on Thursday. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $216.08. The company has a 50-day simple moving average of $181.23 and a 200 day simple moving average of $167.47. The company has a market capitalization of $84.79 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.28 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company 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) EPS. Phillips 66’s revenue was up 6.9% on a year-over-year basis. On average, research analysts predict that Phillips 66 will post 19.84 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

Phillips 66 Company Profile

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.