Phillips 66 (NYSE:PSX) Shares Sold by Berger Financial Group Inc

Key Points

• Berger Financial Group Inc significantly cut its holdings in Phillips 66 by 92.2%, reducing its shares from 39,916 to 3,122 during the first quarter, with the remaining shares valued at $386,000.
• Insider transactions revealed that Director Robert W. Pease purchased 439 shares at an average cost of $113.85, increasing his holdings, while another director bought 500 shares at $123.55.
• Phillips 66 reported impressive earnings, with earnings per share of $2.38, exceeding analyst expectations, and forecasts a full fiscal year EPS of 6.8.

Berger Financial Group Inc decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 92.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,122 shares of the oil and gas company's stock after selling 36,794 shares during the quarter. Berger Financial Group Inc's holdings in Phillips 66 were worth $386,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Forum Financial Management LP raised its position in shares of Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock valued at $853,000 after buying an additional 77 shares during the last quarter. CWC Advisors LLC. grew its stake in Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after acquiring an additional 92 shares during the period. Hager Investment Management Services LLC grew its stake in Phillips 66 by 7.2% in the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after acquiring an additional 96 shares during the period. Golden State Wealth Management LLC raised its holdings in Phillips 66 by 14.4% in the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after acquiring an additional 97 shares during the last quarter. Finally, Lantern Wealth Advisors LLC lifted its stake in shares of Phillips 66 by 4.7% during the 4th quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company's stock worth $253,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 2.0%

Shares of PSX traded up $2.46 during midday trading on Wednesday, reaching $122.50. 2,359,149 shares of the company were exchanged, compared to its average volume of 2,514,303. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85. The stock has a 50-day moving average price of $123.25 and a 200-day moving average price of $118.87. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $49.50 billion, a price-to-earnings ratio of 29.45, a P/E/G ratio of 1.65 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. During the same period last year, the business posted $2.31 EPS. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 1,939 shares of company stock worth $237,725. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Evercore ISI initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price for the company. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Scotiabank reiterated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Compass Point initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating for the company. Finally, Mizuho boosted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.20.

Phillips 66 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.