Arkadios Wealth Advisors Sells 18,712 Shares of Phillips 66 (NYSE:PSX)

Key Points

• Arkadios Wealth Advisors reduced its stake in Phillips 66 by 38.3% in the first quarter, owning 30,188 shares valued at approximately $3.73 million after selling 18,712 shares.
• Phillips 66 reported earnings per share of $2.38 for the recent quarter, exceeding analysts' estimates of $1.79 and generating revenue of $33.77 billion.
• The company announced a quarterly dividend of $1.20, with a payout ratio of 115.38%, indicating a strong commitment to returning value to shareholders.

Arkadios Wealth Advisors lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 38.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,188 shares of the oil and gas company's stock after selling 18,712 shares during the quarter. Arkadios Wealth Advisors' holdings in Phillips 66 were worth $3,728,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Pacific Center for Financial Services acquired a new position in Phillips 66 in the fourth quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new position in Phillips 66 in the first quarter valued at about $27,000. Olde Wealth Management LLC acquired a new position in Phillips 66 in the first quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at about $29,000. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on PSX. Barclays boosted their price target 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. Cantor Fitzgerald initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They set a "neutral" rating for the company. Mizuho boosted their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Citigroup downgraded Phillips 66 from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company lowered their target price on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $136.13.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have acquired 1,939 shares of company stock worth $237,725. Company insiders own 0.22% of the company's stock.

Phillips 66 Trading Down 3.2%

NYSE:PSX traded down $3.99 on Friday, reaching $119.59. 2,115,491 shares of the stock traded hands, compared to its average volume of 2,654,539. The firm has a market capitalization of $48.33 billion, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The company's 50 day moving average is $122.41 and its 200-day moving average is $118.90. The company has a current ratio of 1.07, a quick ratio of 0.88 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 $140.85.

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

Phillips 66 Dividend Announcement

The company also recently announced 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. This represents a $4.80 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend 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.