Birmingham Capital Management Co. Inc. AL Sells 3,550 Shares of Phillips 66 $PSX

Birmingham Capital Management Co. Inc. AL cut its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 52.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,173 shares of the oil and gas company's stock after selling 3,550 shares during the quarter. Birmingham Capital Management Co. Inc. AL's holdings in Phillips 66 were worth $379,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Elliott Investment Management L.P. boosted its holdings in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company's stock worth $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new stake in Phillips 66 in the second quarter worth $281,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company's stock worth $19,625,000 after acquiring an additional 26,825 shares in the last quarter. Alta Advisers Ltd bought a new stake in Phillips 66 in the first quarter worth $253,000. Finally, Sustainable Insight Capital Management LLC bought a new stake in Phillips 66 in the first quarter worth $1,457,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.7%

Phillips 66 stock opened at $129.21 on Monday. The stock has a market cap of $52.22 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The stock has a fifty day moving average of $130.43 and a 200 day moving average of $120.88.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter in the prior year, the business earned $2.31 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66's dividend payout ratio is 115.38%.

Analyst Ratings Changes

Several equities research analysts have commented on PSX shares. Morgan Stanley boosted their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an "equal weight" rating in a report on Friday, October 3rd. Weiss Ratings reissued a "hold (c)" rating on shares of Phillips 66 in a report on Wednesday, October 8th. Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Mizuho upped their price target on Phillips 66 from $140.00 to $142.00 and gave the company a "neutral" rating in a report on Monday, September 15th. Finally, Argus raised Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $141.50.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The stock was bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This represents a 9.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 9,850 shares of company stock worth $1,188,910 in the last three months. 0.22% of the stock is owned by insiders.

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.

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