Phillips 66 (NYSE:PSX) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 54.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,541 shares of the oil and gas company's stock after selling 32,742 shares during the period. Federated Hermes Inc.'s holdings in Phillips 66 were worth $3,401,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. TCTC Holdings LLC grew its holdings in Phillips 66 by 26.5% during the first quarter. TCTC Holdings LLC now owns 204,264 shares of the oil and gas company's stock worth $25,223,000 after acquiring an additional 42,839 shares during the period. Meeder Advisory Services Inc. grew its holdings in Phillips 66 by 15.3% during the first quarter. Meeder Advisory Services Inc. now owns 11,449 shares of the oil and gas company's stock worth $1,414,000 after acquiring an additional 1,517 shares during the period. Foundations Investment Advisors LLC grew its holdings in Phillips 66 by 11.0% during the first quarter. Foundations Investment Advisors LLC now owns 5,216 shares of the oil and gas company's stock worth $644,000 after acquiring an additional 516 shares during the period. Purkiss Capital Advisors LLC grew its holdings in Phillips 66 by 10.7% in the first quarter. Purkiss Capital Advisors LLC now owns 2,258 shares of the oil and gas company's stock valued at $279,000 after purchasing an additional 218 shares during the last quarter. Finally, Norden Group LLC grew its holdings in Phillips 66 by 11.1% in the first quarter. Norden Group LLC now owns 6,117 shares of the oil and gas company's stock valued at $755,000 after purchasing an additional 609 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PSX. TD Cowen upped their target price on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a report on Monday, July 28th. Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial set a $142.00 target price on Phillips 66 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Barclays upped their target price on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a report on Wednesday, July 9th. Finally, Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $136.20.

Phillips 66 Stock Performance

NYSE PSX opened at $121.46 on Tuesday. The business's 50-day moving average price is $122.58 and its 200 day moving average price is $118.89. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The company has a market capitalization of $49.08 billion, a PE ratio of 29.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09. 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 (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, 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 firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the business posted $2.31 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 4.0%. Phillips 66's dividend payout ratio is 115.38%.

Insider Activity

In other Phillips 66 news, Director Michael A. Heim bought 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares of the company's stock, valued at $1,517,056.71. This represents a 9.06% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated 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 transaction, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders bought a total of 1,939 shares of company stock valued at $237,725 in the last three months. Company insiders own 0.22% of the company's stock.

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.

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