Rathbones Group PLC Trims Stake in Phillips 66 (NYSE:PSX)

Rathbones Group PLC lowered its holdings in Phillips 66 (NYSE:PSX) by 7.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,342 shares of the oil and gas company’s stock after selling 500 shares during the period. Rathbones Group PLC’s holdings in Phillips 66 were worth $895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Crewe Advisors LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 in the 1st quarter worth $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Phillips 66 in the first quarter worth $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

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 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 owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.5 %

NYSE:PSX opened at $127.32 on Tuesday. The firm has a market capitalization of $53.29 billion, a P/E ratio of 9.79, a P/E/G ratio of 4.53 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $135.62 and a 200 day moving average of $144.07. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during 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%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 earnings per share. On average, research analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Wells Fargo & Company boosted their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays lifted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $155.29.

Phillips 66 Company 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.