DekaBank Deutsche Girozentrale Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

DekaBank Deutsche Girozentrale lessened its stake in Phillips 66 (NYSE:PSX) by 3.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,367 shares of the oil and gas company’s stock after selling 7,335 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Phillips 66 were worth $27,369,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSX. Vanguard Capital Wealth Advisors grew its holdings in Phillips 66 by 38.0% during the 2nd quarter. Vanguard Capital Wealth Advisors now owns 5,797 shares of the oil and gas company’s stock valued at $818,000 after purchasing an additional 1,597 shares in the last quarter. American Century Companies Inc. boosted its position in Phillips 66 by 3.9% in the 2nd quarter. American Century Companies Inc. now owns 309,478 shares of the oil and gas company’s stock valued at $43,689,000 after buying an additional 11,711 shares during the last quarter. Linscomb Wealth Inc. grew its stake in shares of Phillips 66 by 1.8% during the second quarter. Linscomb Wealth Inc. now owns 5,199 shares of the oil and gas company’s stock valued at $734,000 after acquiring an additional 93 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Phillips 66 by 23.6% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,720 shares of the oil and gas company’s stock worth $384,000 after acquiring an additional 519 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in Phillips 66 by 2.6% in the second quarter. LPL Financial LLC now owns 664,044 shares of the oil and gas company’s stock valued at $93,743,000 after purchasing an additional 16,619 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.8 %

Shares of NYSE PSX opened at $126.70 on Friday. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a market cap of $53.03 billion, a price-to-earnings ratio of 9.75, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $135.79 and its 200 day simple moving average is $144.16.

Phillips 66 (NYSE:PSX) last posted its 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 analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $3.87 earnings per share. Equities research analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.63%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PSX shares. Argus restated a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Piper Sandler cut their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Scotiabank decreased their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Finally, Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.92.

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.