Phillips 66 (NYSE:PSX) Shares Sold by Mediolanum International Funds Ltd

Mediolanum International Funds Ltd decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 23.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,150 shares of the oil and gas company’s stock after selling 4,729 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Phillips 66 were worth $1,982,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter valued at $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the second quarter valued at $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 during the third quarter worth about $26,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 in the 1st quarter worth about $28,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSX shares. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays cut their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley cut their price objective 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 analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Price Performance

NYSE PSX opened at $128.17 on Friday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The business’s fifty day moving average is $132.43 and its two-hundred day moving average is $139.03. The stock has a market capitalization of $53.65 billion, a P/E ratio of 10.99, a P/E/G ratio of 5.61 and a beta of 1.33. 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 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the firm earned $3.87 earnings per share. Phillips 66’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 39.45%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by insiders.

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.