Weaver C. Barksdale & Associates Inc. Sells 1,453 Shares of Phillips 66 (NYSE:PSX)

Weaver C. Barksdale & Associates Inc. cut its stake in Phillips 66 (NYSE:PSX) by 9.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the oil and gas company’s stock after selling 1,453 shares during the period. Phillips 66 accounts for 2.0% of Weaver C. Barksdale & Associates Inc.’s investment portfolio, making the stock its 15th largest holding. Weaver C. Barksdale & Associates Inc.’s holdings in Phillips 66 were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in PSX. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in shares of Phillips 66 during the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter valued at $28,000. Ruedi Wealth Management Inc. lifted its holdings in Phillips 66 by 102.1% during the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 in the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the 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 completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PSX shares. Piper Sandler reduced their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Barclays raised 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. TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Six equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $155.29.

Phillips 66 Stock Up 1.7 %

Phillips 66 stock opened at $132.56 on Friday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The firm has a 50 day moving average price of $135.37 and a 200 day moving average price of $143.79. The company has a market capitalization of $55.49 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last issued its earnings results 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 net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the company earned $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Research analysts expect that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is 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.