Benjamin Edwards Inc. Decreases Stake in Phillips 66 $PSX

Benjamin Edwards Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 15.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,111 shares of the oil and gas company's stock after selling 4,831 shares during the quarter. Benjamin Edwards Inc.'s holdings in Phillips 66 were worth $4,414,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Key Client Fiduciary Advisors LLC grew its stake in Phillips 66 by 3.5% during the second quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company's stock worth $275,000 after buying an additional 55 shares during the period. Threadgill Financial LLC raised its stake in shares of Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company's stock valued at $286,000 after acquiring an additional 58 shares during the period. Calamos Wealth Management LLC lifted its holdings in shares of Phillips 66 by 2.0% during the 2nd quarter. Calamos Wealth Management LLC now owns 3,084 shares of the oil and gas company's stock valued at $521,000 after acquiring an additional 60 shares in the last quarter. Somerset Trust Co lifted its holdings in shares of Phillips 66 by 0.3% during the 2nd quarter. Somerset Trust Co now owns 21,301 shares of the oil and gas company's stock valued at $3,601,000 after acquiring an additional 63 shares in the last quarter. Finally, Clifford Group LLC boosted its position in Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company's stock worth $428,000 after purchasing an additional 64 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $244.50 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. Phillips 66 has a fifty-two week low of $126.74 and a fifty-two week high of $246.95. The business has a 50 day moving average price of $206.11 and a two-hundred day moving average price of $182.76. The firm has a market cap of $97.56 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $7.50 by $1.91. The company had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same period in the prior year, the company posted $2.38 EPS. Sell-side analysts expect that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 declared that its board has initiated a share buyback program on Friday, July 31st that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. Phillips 66's dividend payout ratio (DPR) is presently 28.95%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the sale, the executive vice president directly owned 27,537 shares of the company's stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of the company's stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the sale, the executive vice president owned 39,094 shares in the company, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 100,507 shares of company stock valued at $21,770,810 over the last ninety days. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Citigroup reiterated a "neutral" rating on shares of Phillips 66 in a report on Thursday, August 6th. UBS Group upped their target price on Phillips 66 from $212.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Guggenheim upgraded Phillips 66 to an "outperform" rating in a research note on Wednesday, May 27th. Barclays raised their target price on Phillips 66 from $183.00 to $216.00 and gave the company an "equal weight" rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group boosted their price target on Phillips 66 from $191.00 to $207.00 and gave the stock a "hold" rating in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $206.56.

Phillips 66 Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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