Phillips 66 (NYSE:PSX) Shares Sold by Childress Capital Advisors LLC

Childress Capital Advisors LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 72.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,532 shares of the oil and gas company’s stock after selling 3,967 shares during the quarter. Childress Capital Advisors LLC’s holdings in Phillips 66 were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Manning & Napier Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at $17,670,000. M&G Plc acquired a new position in Phillips 66 in the 2nd quarter valued at $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 in the 1st quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after buying an additional 39,775 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in Phillips 66 by 69.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after buying an additional 15,542 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Scotiabank dropped their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Raymond James upped their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Finally, TD Cowen lowered their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $151.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $122.05 on Thursday. The stock has a market cap of $51.09 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 5.47 and a beta of 1.33. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The company’s 50-day moving average price is $131.80 and its 200 day moving average price is $138.20. 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 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.63 EPS. As a group, research analysts forecast that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 dividend on an annualized basis and a yield of 3.77%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 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 transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by insiders.

Phillips 66 Company 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.