King Luther Capital Management Corp Sells 1,336 Shares of Phillips 66 (NYSE:PSX)

King Luther Capital Management Corp lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 3.1% in the second quarter, Holdings Channel.com reports. The fund owned 42,349 shares of the oil and gas company’s stock after selling 1,336 shares during the quarter. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $5,978,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Gryphon Financial Partners LLC raised its position in shares of Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after acquiring an additional 426 shares during the period. TrinityPoint Wealth LLC raised its stake in shares of Phillips 66 by 14.9% in the 4th quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 672 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Phillips 66 by 55.1% in the fourth quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock valued at $4,477,000 after purchasing an additional 11,945 shares in the last quarter. Assetmark Inc. boosted its position in shares of Phillips 66 by 792.6% during the fourth quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock worth $194,000 after buying an additional 1,292 shares during the period. Finally, US Bancorp DE raised its position in Phillips 66 by 0.4% in the 4th quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock valued at $35,070,000 after buying an additional 1,017 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PSX. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Scotiabank decreased their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Finally, Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on 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 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 document filed with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 1.9 %

Shares of PSX stock opened at $129.97 on Friday. 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 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a market cap of $55.10 billion, a PE ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The stock’s fifty day moving average price is $135.20 and its two-hundred day moving average price is $143.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the business earned $3.87 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts predict that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.