Thrive Wealth Management LLC Sells 783 Shares of Phillips 66 (NYSE:PSX)

Thrive Wealth Management LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 21.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,954 shares of the oil and gas company’s stock after selling 783 shares during the quarter. Thrive Wealth Management LLC’s holdings in Phillips 66 were worth $388,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Duncan Williams Asset Management LLC grew its position in Phillips 66 by 16.1% during the 3rd quarter. Duncan Williams Asset Management LLC now owns 2,322 shares of the oil and gas company’s stock worth $305,000 after acquiring an additional 322 shares during the last quarter. Czech National Bank grew its position in Phillips 66 by 5.5% during the 3rd quarter. Czech National Bank now owns 85,266 shares of the oil and gas company’s stock worth $11,208,000 after acquiring an additional 4,477 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Phillips 66 by 243.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 423,000 shares of the oil and gas company’s stock worth $59,715,000 after acquiring an additional 300,000 shares during the last quarter. Verity & Verity LLC grew its position in Phillips 66 by 3.3% during the 2nd quarter. Verity & Verity LLC now owns 61,143 shares of the oil and gas company’s stock worth $8,632,000 after acquiring an additional 1,926 shares during the last quarter. Finally, Heritage Wealth Management Inc. bought a new stake in Phillips 66 during the 2nd quarter worth $1,036,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.2 %

Shares of NYSE:PSX traded down $0.31 during midday trading on Friday, reaching $138.62. The company’s stock had a trading volume of 2,467,428 shares, compared to its average volume of 2,733,967. The firm has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.28 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. The firm has a 50 day moving average price of $133.83 and a two-hundred day moving average price of $142.39. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.87 EPS. As a group, analysts forecast that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Scotiabank reduced their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Raymond James upped their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company upped their price target on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.71.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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.