Creative Planning Sells 15,167 Shares of Phillips 66 (NYSE:PSX)

Creative Planning reduced its position in shares of Phillips 66 (NYSE:PSX) by 6.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 219,036 shares of the oil and gas company’s stock after selling 15,167 shares during the period. Creative Planning owned about 0.05% of Phillips 66 worth $30,921,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Wellington Management Group LLP grew its holdings in shares of Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Boston Partners boosted its holdings in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its holdings in Phillips 66 by 4,556.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after acquiring an additional 932,552 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays boosted their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company boosted their price target on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Finally, Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $154.21.

Insider Activity at Phillips 66

In related 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $131.05 on Monday. 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 twelve month low of $107.85 and a twelve month high of $174.08. The stock’s 50 day moving average is $134.30 and its 200-day moving average is $142.94. The firm has a market capitalization of $55.56 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 5.22 and a beta of 1.33.

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, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’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 earnings per share. Sell-side analysts forecast that Phillips 66 will post 8.27 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s 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.