Phillips 66 (NYSE:PSX) Shares Sold by Ellerson Group Inc. ADV

Ellerson Group Inc. ADV reduced its stake in shares of Phillips 66 (NYSE:PSX) by 4.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,998 shares of the oil and gas company’s stock after selling 1,382 shares during the period. Phillips 66 accounts for about 3.0% of Ellerson Group Inc. ADV’s holdings, making the stock its 11th biggest position. Ellerson Group Inc. ADV’s holdings in Phillips 66 were worth $3,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of PSX. Crewe Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. raised its holdings in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 in the 4th quarter valued at $27,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. TD Cowen upped their price objective on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Wells Fargo & Company upped their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday, September 3rd. Argus reaffirmed a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Finally, Piper Sandler decreased their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.85.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $127.81 on Tuesday. The firm has a market cap of $53.50 billion, a PE ratio of 9.84, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. The firm’s 50-day simple moving average is $136.90 and its 200-day simple moving average is $144.73. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.87 EPS. Equities analysts forecast that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid 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 3.60%. Phillips 66’s dividend payout ratio (DPR) is presently 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.