Riverview Capital Advisers LLC Sells 955 Shares of Phillips 66 (NYSE:PSX)

Riverview Capital Advisers LLC trimmed its position in Phillips 66 (NYSE:PSX) by 3.3% during the second quarter, Holdings Channel reports. The firm owned 27,875 shares of the oil and gas company’s stock after selling 955 shares during the quarter. Phillips 66 makes up approximately 1.3% of Riverview Capital Advisers LLC’s portfolio, making the stock its 26th largest holding. Riverview Capital Advisers LLC’s holdings in Phillips 66 were worth $3,935,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 during the 1st quarter worth $28,000. Ruedi Wealth Management Inc. lifted its position in shares of Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new position in Phillips 66 in the 4th quarter valued at about $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Argus reaffirmed a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Piper Sandler cut their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $130.31 on Thursday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a 50 day moving average price of $135.46 and a two-hundred day moving average price of $143.87. The firm has a market capitalization of $54.54 billion, a P/E ratio of 10.02, a P/E/G ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period last year, the business earned $3.87 EPS. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal 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 given a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.53%. Phillips 66’s dividend payout ratio is currently 35.38%.

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.