DekaBank Deutsche Girozentrale Decreases Position in Phillips 66 $PSX

DekaBank Deutsche Girozentrale trimmed its position in Phillips 66 (NYSE:PSX) by 2.1% during the second quarter, Holdings Channel.com reports. The firm owned 199,461 shares of the oil and gas company’s stock after selling 4,241 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Phillips 66 were worth $23,766,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Wolff Wiese Magana LLC raised its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in shares of Phillips 66 in the 1st quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. Mizuho lifted their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Scotiabank reiterated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a research note on Friday, July 11th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.50.

Phillips 66 Trading Up 2.0%

NYSE PSX opened at $131.23 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $53.03 billion, a PE ratio of 31.55, a P/E/G ratio of 1.79 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The firm’s fifty day moving average is $131.02 and its two-hundred day moving average is $121.23.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for 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 quarter in the previous year, the firm earned $2.31 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66’s payout ratio is currently 115.38%.

About Phillips 66

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.