WealthTrust Axiom LLC Sells 195 Shares of Phillips 66 (NYSE:PSX)

WealthTrust Axiom LLC reduced its position in Phillips 66 (NYSE:PSX) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 7,445 shares of the oil and gas company’s stock after selling 195 shares during the period. WealthTrust Axiom LLC’s holdings in Phillips 66 were worth $991,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its position in shares of Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $10,402,000. Choate Investment Advisors bought a new position in shares of Phillips 66 in the third quarter worth approximately $247,000. First Dallas Securities Inc. bought a new position in shares of Phillips 66 in the third quarter worth approximately $753,000. Finally, TIAA Trust National Association increased its position in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Down 5.2 %

PSX traded down $7.83 during trading on Tuesday, reaching $143.71. The stock had a trading volume of 2,194,211 shares, compared to its average volume of 2,963,807. The stock’s 50 day moving average is $155.70 and its two-hundred day moving average is $137.52. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $61.48 billion, a price-to-earnings ratio of 11.35, a P/E/G ratio of 1.83 and a beta of 1.37. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the prior year, the firm earned $4.21 EPS. As a group, analysts expect that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 32.31%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Raymond James upped their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Bank of America increased their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Transactions at Phillips 66

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last quarter. 0.22% of the stock is owned by insiders.

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.