Phillips 66 $PSX Shares Sold by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC lessened its position in Phillips 66 (NYSE:PSX) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,721 shares of the oil and gas company’s stock after selling 430 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Phillips 66 were worth $1,399,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Glass Jacobson Investment Advisors llc increased its holdings in shares of Phillips 66 by 299.1% in the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 850 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 637 shares during the period. Moment Partners LLC increased its holdings in shares of Phillips 66 by 3.0% in the 2nd quarter. Moment Partners LLC now owns 4,958 shares of the oil and gas company’s stock worth $591,000 after acquiring an additional 146 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Phillips 66 by 1.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 941,568 shares of the oil and gas company’s stock worth $112,329,000 after acquiring an additional 17,247 shares during the period. Catalyst Capital Advisors LLC increased its holdings in shares of Phillips 66 by 72.1% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 907 shares of the oil and gas company’s stock worth $108,000 after acquiring an additional 380 shares during the period. Finally, Mader & Shannon Wealth Management Inc. increased its holdings in shares of Phillips 66 by 0.5% in the 2nd quarter. Mader & Shannon Wealth Management Inc. now owns 20,313 shares of the oil and gas company’s stock worth $2,423,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other news, Director Gregory Hayes bought 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael A. Heim bought 1,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSX shares. Mizuho increased their price objective on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Morgan Stanley boosted their price target on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

Phillips 66 Stock Performance

NYSE:PSX opened at $135.40 on Tuesday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $131.75 and a 200-day moving average of $122.35. The firm has a market cap of $54.72 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the firm posted $2.31 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 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.