Chelsea Counsel Co. Sells 4,300 Shares of Phillips 66 $PSX

Key Points

• Chelsea Counsel Co. has reduced its holdings in Phillips 66 by 65.3%, selling 4,300 shares, leaving it with 2,285 shares valued at $282,000.
• Wall Street analysts have mixed opinions on Phillips 66, with price targets ranging from $128.00 to $135.80 and a consensus rating of "Moderate Buy."
• The company declared a quarterly dividend of $1.20 per share, reflecting an annualized dividend yield of 3.6%.

Chelsea Counsel Co. reduced its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 65.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,285 shares of the oil and gas company's stock after selling 4,300 shares during the period. Chelsea Counsel Co.'s holdings in Phillips 66 were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 during the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating for the company. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a report on Wednesday, June 18th. Compass Point began coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Argus raised Phillips 66 to a "strong-buy" rating in a report on Thursday, July 31st. Finally, Morgan Stanley lifted their price objective on Phillips 66 from $122.00 to $128.00 and gave the company an "equal weight" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $136.40.

Insider Buying and Selling at Phillips 66

In other news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the transaction, the director directly owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. 0.22% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded down $1.75 during trading on Friday, reaching $130.77. 1,380,566 shares of the company's stock were exchanged, compared to its average volume of 2,049,238. 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 1-year low of $91.01 and a 1-year high of $140.60. The company has a market cap of $52.85 billion, a P/E ratio of 31.44, a PEG ratio of 2.06 and a beta of 1.15. The firm's 50-day moving average price is $126.95 and its 200 day moving average price is $119.59.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates 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 previous year, the company posted $2.31 EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.7%. Phillips 66's payout ratio is currently 115.38%.

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.