Hendley & Co. Inc. Sells 4,030 Shares of Phillips 66 $PSX

Key Points

• Hendley & Co. Inc. reduced its holdings in Phillips 66 by 69.1% during the second quarter, bringing its total shares down to 1,805 worth $215,000.
• Several institutional investors, including Wolff Wiese Magana LLC and Olde Wealth Management LLC, have recently increased their stakes in Phillips 66, highlighting significant institutional interest as they now own 76.93% of the company’s stock.
• Phillips 66 declared a quarterly dividend of $1.20 per share, with an annual yield of 3.6%, although the dividend payout ratio stands at 115.38%.

Hendley & Co. Inc. lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 69.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,805 shares of the oil and gas company's stock after selling 4,030 shares during the quarter. Hendley & Co. Inc.'s holdings in Phillips 66 were worth $215,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wolff Wiese Magana LLC raised its position in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 82 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Phillips 66 during the first quarter worth $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 during the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the first quarter worth $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 during the first quarter worth $29,000. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on PSX. Jefferies Financial Group upped their price target on shares of Phillips 66 from $130.00 to $133.00 and gave the stock a "hold" rating in a research report on Monday, September 15th. Raymond James Financial upped their price target on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. Evercore ISI upped their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Finally, Scotiabank reissued a "sector perform" rating and issued a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $140.50.

Phillips 66 Price Performance

NYSE:PSX opened at $132.34 on Wednesday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The firm has a market cap of $53.48 billion, a price-to-earnings ratio of 31.81, a P/E/G ratio of 1.91 and a beta of 1.11. The firm's 50-day simple moving average is $129.07 and its 200 day simple moving average is $120.51. 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 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The business had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the firm earned $2.31 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared 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. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were purchased at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This represents a 39.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction on Wednesday, July 30th. The shares were purchased at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director directly 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 acquired a total of 9,850 shares of company stock valued at $1,188,910 in the last three months. 0.22% of the stock is owned by insiders.

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.

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