Alley Investment Management Company LLC Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Alley Investment Management Company LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,995 shares of the oil and gas company’s stock after selling 9,114 shares during the period. Alley Investment Management Company LLC’s holdings in Phillips 66 were worth $7,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Madison Park Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 3.0% in the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after buying an additional 68 shares during the last quarter. Warwick Investment Management Inc. boosted its stake in shares of Phillips 66 by 3.1% during the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock worth $319,000 after acquiring an additional 73 shares during the last quarter. MV Capital Management Inc. grew its position in shares of Phillips 66 by 9.6% during the 1st quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 73 shares during the period. Mitchell & Pahl Private Wealth LLC grew its position in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after acquiring an additional 74 shares during the period. Finally, Catalyst Financial Partners LLC increased its stake in shares of Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, TD Cowen decreased their price objective 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. 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 stock has an average rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Trading Down 1.2 %

Shares of PSX stock opened at $129.52 on Wednesday. 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 has a market capitalization of $54.21 billion, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 5.26 and a beta of 1.33. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The stock’s 50-day moving average price is $134.81 and its 200-day moving average price is $143.38.

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 (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business 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 company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.87 EPS. Equities research analysts predict that Phillips 66 will post 8.31 EPS 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 dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.55%. Phillips 66’s dividend payout ratio (DPR) 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.