Paragon Capital Management Ltd Sells 1,889 Shares of Phillips 66 $PSX

Key Points

• Paragon Capital Management Ltd reduced its stake in Phillips 66 by 51.5%, selling 1,889 shares and now holding 1,777 shares valued at approximately $212,000.
• Several hedge funds have recently invested in Phillips 66, contributing to a total institutional and hedge fund ownership of 76.93%.
• Analysts have a consensus rating of "Moderate Buy" for Phillips 66, with a current target price averaging $139.38.

Paragon Capital Management Ltd lessened its position in Phillips 66 (NYSE:PSX - Free Report) by 51.5% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,777 shares of the oil and gas company's stock after selling 1,889 shares during the period. Paragon Capital Management Ltd's holdings in Phillips 66 were worth $212,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the first quarter valued at approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $28,000. Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $29,000. Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 in the first quarter valued at approximately $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PSX shares. TD Cowen raised their price objective on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Jefferies Financial Group lifted their target price on Phillips 66 from $130.00 to $133.00 and gave the company a "hold" rating in a research report on Monday, September 15th. Cantor Fitzgerald assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating on the stock. Piper Sandler lifted their target price on Phillips 66 from $144.00 to $154.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Finally, Compass Point assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $139.38.

Phillips 66 Stock Up 0.3%

PSX stock opened at $139.45 on Friday. The stock's fifty day simple moving average is $127.94 and its two-hundred day simple moving average is $120.18. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The stock has a market cap of $56.36 billion, a P/E ratio of 33.52, a P/E/G ratio of 1.98 and a beta of 1.15.

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 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion for the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.4%. Phillips 66's payout ratio is currently 115.38%.

Insiders Place Their Bets

In other Phillips 66 news, Director Sigmund L. Cornelius acquired 500 shares of the business's stock in a transaction on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Michael A. Heim acquired 1,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average cost of $125.97 per share, for a total transaction 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. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 9,850 shares of company stock worth $1,188,910 in the last ninety days. Company insiders own 0.22% of the company's stock.

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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