Phillips 66 (NYSE:PSX) Shares Sold by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. cut its position in Phillips 66 (NYSE:PSX) by 26.1% during the third quarter, Holdings Channel reports. The firm owned 7,383 shares of the oil and gas company’s stock after selling 2,609 shares during the period. J.W. Cole Advisors Inc.’s holdings in Phillips 66 were worth $970,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Financial Management Professionals Inc. boosted its position in Phillips 66 by 35.1% in the third quarter. Financial Management Professionals Inc. now owns 1,489 shares of the oil and gas company’s stock valued at $196,000 after buying an additional 387 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Phillips 66 by 1.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 199,461 shares of the oil and gas company’s stock valued at $26,076,000 after acquiring an additional 3,094 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Phillips 66 by 8.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 123,288 shares of the oil and gas company’s stock valued at $16,206,000 after acquiring an additional 9,414 shares during the last quarter. Arkadios Wealth Advisors increased its stake in shares of Phillips 66 by 0.6% in the third quarter. Arkadios Wealth Advisors now owns 42,829 shares of the oil and gas company’s stock worth $5,630,000 after acquiring an additional 246 shares during the period. Finally, CWC Advisors LLC. purchased a new position in shares of Phillips 66 during the third quarter worth $1,269,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 4.3 %

Shares of NYSE PSX opened at $123.29 on Wednesday. The firm has a market cap of $51.61 billion, a price-to-earnings ratio of 10.57, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The company’s 50-day simple moving average is $132.04 and its 200-day simple moving average is $138.32. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52-week low of $109.86 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the firm posted $3.87 EPS. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 39.45%.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Morgan Stanley lowered their target price on 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. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Barclays dropped their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.22% of the stock is owned by company insiders.

Phillips 66 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.