NBC Securities Inc. Sells 200 Shares of Phillips 66 (NYSE:PSX)

NBC Securities Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 4.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,908 shares of the oil and gas company’s stock after selling 200 shares during the period. NBC Securities Inc.’s holdings in Phillips 66 were worth $513,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in Phillips 66 during the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 during the 2nd quarter valued at about $26,000. Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Finally, Ruedi Wealth Management Inc. boosted its position in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Transactions 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 shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 Trading Up 0.8 %

Shares of Phillips 66 stock opened at $133.35 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market capitalization of $56.53 billion, a price-to-earnings ratio of 10.26, a PEG ratio of 5.48 and a beta of 1.33. The firm’s 50 day simple moving average is $133.23 and its two-hundred day simple moving average is $140.84.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.87 earnings per share. Analysts predict that Phillips 66 will post 8.19 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s payout ratio is currently 35.38%.

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.