Phillips 66 (NYSE:PSX) Shares Sold by Powers Advisory Group LLC

Powers Advisory Group LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 6.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,143 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Powers Advisory Group LLC’s holdings in Phillips 66 were worth $444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 4.0% in the 1st 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 purchasing an additional 1,578,669 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Phillips 66 by 20.3% during the fourth 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 purchasing an additional 1,842,226 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock worth $1,309,954,000 after purchasing an additional 2,209,043 shares during the period. Boston Partners grew its position in Phillips 66 by 41.4% in 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 last quarter. Finally, Norges Bank acquired a new position in Phillips 66 in the 4th quarter valued at $559,435,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSX. Scotiabank reduced their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research note on Friday, July 12th. Argus reiterated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Barclays increased their price objective on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Phillips 66 Trading Up 1.7 %

PSX stock traded up $2.21 during midday trading on Friday, hitting $135.37. The stock had a trading volume of 1,879,502 shares, compared to its average volume of 2,640,957. The company’s 50-day moving average price is $137.95 and its 200 day moving average price is $145.66. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $57.39 billion, a PE ratio of 10.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

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 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 company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period in the prior year, the firm posted $3.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

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.