Godsey & Gibb Inc. Sells 85 Shares of Phillips 66 (NYSE:PSX)

Godsey & Gibb Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,198 shares of the oil and gas company’s stock after selling 85 shares during the period. Godsey & Gibb Inc.’s holdings in Phillips 66 were worth $157,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 during the second quarter valued at approximately $3,596,000. Duality Advisers LP purchased a new stake in Phillips 66 in the first quarter worth approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after purchasing an additional 15,542 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.6 %

PSX opened at $132.60 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm’s fifty day moving average is $133.18 and its 200 day moving average is $140.20. The stock has a market cap of $56.22 billion, a price-to-earnings ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.87 EPS. On average, sell-side analysts forecast that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is 35.38%.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Wolfe Research initiated coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.50.

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.