Phillips 66 (NYSE:PSX) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its stake in Phillips 66 (NYSE:PSX) by 11.7% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,894 shares of the oil and gas company’s stock after selling 251 shares during the quarter. Ritholtz Wealth Management’s holdings in Phillips 66 were worth $249,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 1,578,669 shares during the period. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners increased its stake in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Phillips 66 by 0.5% during the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $133.35 on Friday. The stock has a fifty day simple moving average of $133.23 and a 200-day simple moving average of $140.84. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $56.53 billion, a PE ratio of 10.26, a P/E/G ratio of 5.48 and a beta of 1.33. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during 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%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $3.87 earnings per share. Equities analysts anticipate that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 35.38%.

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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

PSX has been the subject of several research reports. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen reduced their target price 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. Barclays dropped their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday. They issued a “buy” rating and a $156.00 target price on the stock. Finally, Piper Sandler boosted their target price on Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.50.

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.