Alps Advisors Inc. Sells 6,758 Shares of Phillips 66 (NYSE:PSX)

Alps Advisors Inc. lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 3.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 190,652 shares of the oil and gas company's stock after selling 6,758 shares during the period. Alps Advisors Inc.'s holdings in Phillips 66 were worth $23,542,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSX. Geode Capital Management LLC grew its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after purchasing an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Northern Trust Corp grew its holdings in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after purchasing an additional 440,107 shares in the last quarter. Norges Bank acquired a new stake in Phillips 66 during the 4th quarter valued at $497,648,000. Finally, Invesco Ltd. increased its position in shares of Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock worth $468,551,000 after purchasing an additional 347,905 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Down 1.3%

Shares of PSX stock traded down $1.81 during trading hours on Friday, reaching $132.58. 826,715 shares of the stock traded hands, compared to its average volume of 3,111,353. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The business has a fifty day moving average price of $118.98 and a 200 day moving average price of $117.59. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $54.02 billion, a PE ratio of 30.20, a PEG ratio of 2.06 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.62%. Phillips 66's dividend payout ratio is presently 109.34%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research analyst reports. Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research note on Wednesday, June 18th. Mizuho upped their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Scotiabank reaffirmed a "sector perform" rating and issued a $133.00 price target on shares of Phillips 66 in a research note on Friday. Finally, Piper Sandler upped their price target on shares of Phillips 66 from $131.00 to $148.00 and gave the stock a "neutral" rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $135.07.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company's stock.

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.