FourThought Financial Partners LLC Has $1.94 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Key Points

• FourThought Financial Partners LLC reduced its stake in Phillips 66 by 26.7%, now holding 15,682 shares valued at approximately $1.94 million after selling 5,700 shares in the first quarter.
• Phillips 66 reported $2.38 EPS for its last quarter, exceeding analysts' expectations, and plans to pay a $1.20 quarterly dividend on September 2nd with a yield of 3.84%.
• Investment analysts generally maintain a "Hold" rating for Phillips 66 with a consensus price target of $135.20, amidst various ratings and price objectives issued by firms like Wells Fargo and Morgan Stanley.

FourThought Financial Partners LLC trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 26.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,682 shares of the oil and gas company's stock after selling 5,700 shares during the period. FourThought Financial Partners LLC's holdings in Phillips 66 were worth $1,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HB Wealth Management LLC lifted its holdings in shares of Phillips 66 by 29.9% during the first quarter. HB Wealth Management LLC now owns 29,276 shares of the oil and gas company's stock worth $3,615,000 after purchasing an additional 6,737 shares during the period. Applied Finance Capital Management LLC increased its position in shares of Phillips 66 by 8.9% in the first quarter. Applied Finance Capital Management LLC now owns 10,278 shares of the oil and gas company's stock valued at $1,269,000 after buying an additional 839 shares in the last quarter. Phoenix Financial Ltd. purchased a new position in shares of Phillips 66 in the first quarter valued at $694,000. Nicholas Wealth LLC. increased its position in shares of Phillips 66 by 13.7% in the first quarter. Nicholas Wealth LLC. now owns 6,858 shares of the oil and gas company's stock valued at $847,000 after buying an additional 828 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in shares of Phillips 66 by 9.3% in the first quarter. Cetera Investment Advisers now owns 138,417 shares of the oil and gas company's stock valued at $17,092,000 after buying an additional 11,771 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the sale, the executive vice president directly owned 43,373 shares in the company, valued at $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $2.40 during trading on Wednesday, reaching $126.01. The stock had a trading volume of 1,082,864 shares, compared to its average volume of 3,464,495. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The stock has a market cap of $51.34 billion, a PE ratio of 30.31, a P/E/G ratio of 1.85 and a beta of 1.02. The firm's 50 day moving average price is $121.82 and its two-hundred day moving average price is $118.79.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.86% and a net margin of 1.27%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the previous year, the firm posted $2.31 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.81%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSX shares. Barclays increased their price objective on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their price target on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Raymond James Financial set a $142.00 price target on Phillips 66 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. UBS Group raised their price target on Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a research note on Monday. Finally, TD Cowen raised their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research note on Monday. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $136.13.

About Phillips 66

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.