Tributary Capital Management LLC Decreases Stock Position in Phillips 66 (NYSE:PSX)

Tributary Capital Management LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 39.6% during the third quarter, Holdings Channel reports. The institutional investor owned 1,660 shares of the oil and gas company’s stock after selling 1,090 shares during the quarter. Tributary Capital Management LLC’s holdings in Phillips 66 were worth $218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Crewe Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter worth approximately $26,000. Finally, Redmont Wealth Advisors LLC purchased a new position in Phillips 66 in the 1st quarter valued at approximately $28,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $128.89 on Tuesday. Phillips 66 has a fifty-two week low of $109.86 and a fifty-two 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 stock has a market cap of $53.95 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The firm’s fifty day moving average price is $132.22 and its 200-day moving average price is $138.59.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. Phillips 66’s dividend payout ratio is 39.45%.

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.