DecisionPoint Financial LLC Sells 93 Shares of Phillips 66 (NYSE:PSX)

DecisionPoint Financial LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 15.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 500 shares of the oil and gas company’s stock after selling 93 shares during the quarter. DecisionPoint Financial LLC’s holdings in Phillips 66 were worth $73,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 5.0% during 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 in the last quarter. Boston Partners boosted its holdings in shares of 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. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PSX. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lowered their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Finally, Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $128.30 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The business’s 50 day simple moving average is $135.53 and its two-hundred day simple moving average is $143.96. The stock has a market capitalization of $53.70 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 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 analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.87 EPS. Analysts forecast that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. Phillips 66’s dividend payout ratio is currently 35.38%.

About Phillips 66

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.