Sage Mountain Advisors LLC Sells 424 Shares of Phillips 66 $PSX

Sage Mountain Advisors LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 16.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,146 shares of the oil and gas company’s stock after selling 424 shares during the period. Sage Mountain Advisors LLC’s holdings in Phillips 66 were worth $256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Wolff Wiese Magana LLC increased its holdings in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 82 shares during the period. von Borstel & Associates Inc. purchased a new position in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new position in Phillips 66 in the 1st quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC purchased a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Finally, Pinpoint Asset Management Ltd purchased a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.5%

NYSE:PSX opened at $135.07 on Monday. The company has a fifty day moving average of $131.51 and a 200 day moving average of $122.13. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $54.58 billion, a P/E ratio of 32.47, a P/E/G ratio of 1.77 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the business posted $2.31 EPS. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared 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. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is currently 115.38%.

Insider Activity

In other news, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the acquisition, the director directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on 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 $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSX shares. Raymond James Financial reissued an “outperform” rating and issued a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Saturday. Wells Fargo & Company started coverage on shares of Phillips 66 in a research note on Friday, October 17th. They issued an “overweight” rating and a $154.00 price target for the company. Finally, Barclays boosted their price target on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

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.