Global Retirement Partners LLC Sells 134 Shares of Phillips 66 (NYSE:PSX)

Global Retirement Partners LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,092 shares of the oil and gas company’s stock after selling 134 shares during the period. Global Retirement Partners LLC’s holdings in Phillips 66 were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MJP Associates Inc. ADV bought a new stake in Phillips 66 during the 1st quarter worth approximately $247,000. Douglas Lane & Associates LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $320,000. Cooper Financial Group increased its holdings in Phillips 66 by 10.4% during the 1st quarter. Cooper Financial Group now owns 1,745 shares of the oil and gas company’s stock worth $285,000 after acquiring an additional 164 shares during the period. Ballentine Partners LLC increased its holdings in Phillips 66 by 3.9% during the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 110 shares during the period. Finally, Southland Equity Partners LLC increased its holdings in Phillips 66 by 16.1% during the 1st quarter. Southland Equity Partners LLC now owns 2,360 shares of the oil and gas company’s stock worth $385,000 after acquiring an additional 328 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSX. Barclays decreased their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Morgan Stanley lowered their price objective on shares of 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 lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday. Finally, TD Cowen lowered their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Price Performance

PSX stock opened at $132.60 on Friday. The firm has a market cap of $56.22 billion, a P/E ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. 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’s fifty day moving average is $133.18 and its 200 day moving average is $140.43.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The business 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 company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.87 EPS. Research analysts predict that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

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.