Phillips 66 (NYSE:PSX) Position Lessened by GPS Wealth Strategies Group LLC

GPS Wealth Strategies Group LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 6.0% in the second quarter, Holdings Channel reports. The firm owned 22,101 shares of the oil and gas company’s stock after selling 1,403 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Phillips 66 were worth $3,120,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 38.0% during the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares during the last quarter. Boston Partners boosted its position in 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 valued at $889,214,000 after buying an additional 1,595,722 shares during the period. Finally, Norges Bank purchased a new stake in shares of Phillips 66 in the 4th quarter worth about $559,435,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $3.04 during trading on Wednesday, reaching $137.70. The stock had a trading volume of 2,129,303 shares, compared to its average volume of 2,660,125. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The stock has a market cap of $58.38 billion, a PE ratio of 10.62, a P/E/G ratio of 2.37 and a beta of 1.34. 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 50 day moving average price is $138.15 and its two-hundred day moving average price is $146.04.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share 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 firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the firm earned $3.87 earnings per share. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. On average, research analysts forecast that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.34%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Barclays raised their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Piper Sandler lowered their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Raymond James boosted their price target 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, JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $157.38.

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.