TCV Trust & Wealth Management Inc. Sells 113 Shares of Phillips 66 (NYSE:PSX)

TCV Trust & Wealth Management Inc. lessened its position in shares of Phillips 66 (NYSE:PSX) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,632 shares of the oil and gas company’s stock after selling 113 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in Phillips 66 were worth $215,000 at the end of the most recent quarter.

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

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction 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 $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 0.2 %

Shares of PSX opened at $128.17 on Monday. The company has a market capitalization of $54.34 billion, a PE ratio of 9.86, a PEG ratio of 5.61 and a beta of 1.33. The stock’s 50-day moving average price is $132.43 and its two-hundred day moving average price is $138.85. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $107.85 and a 12 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 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $37.79 billion. During the same period in the prior year, the business posted $3.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, analysts anticipate that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.59%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. TD Cowen dropped their price target 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. Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $149.50.

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.