Catalyst Capital Advisors LLC Sells 22,804 Shares of Phillips 66 (NYSE:PSX)

Catalyst Capital Advisors LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 98.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366 shares of the oil and gas company’s stock after selling 22,804 shares during the period. Catalyst Capital Advisors LLC’s holdings in Phillips 66 were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PSX. Norden Group LLC raised its stake in Phillips 66 by 73.2% during the 1st quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock valued at $611,000 after buying an additional 1,582 shares during the last quarter. Jennison Associates LLC increased its position in Phillips 66 by 37.6% during the first quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company’s stock valued at $1,264,000 after acquiring an additional 2,115 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in Phillips 66 in the first quarter valued at about $243,000. Larson Financial Group LLC boosted its position in Phillips 66 by 33.3% in the first quarter. Larson Financial Group LLC now owns 1,270 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 317 shares during the last quarter. Finally, SPC Financial Inc. grew its stake in shares of Phillips 66 by 5.4% during the 1st quarter. SPC Financial Inc. now owns 1,942 shares of the oil and gas company’s stock valued at $317,000 after purchasing an additional 100 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on PSX shares. TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Finally, Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Price Performance

Shares of PSX opened at $127.91 on Thursday. The company has a market capitalization of $52.83 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. The business’s 50-day moving average is $130.59 and its two-hundred day moving average is $137.00. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the business earned $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts predict that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

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.