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Phillips 66 (NYSE:PSX) Shares Sold by Vanguard Group Inc.

Phillips 66 logo with Energy background

Key Points

  • Vanguard Group Inc. reduced its stake in Phillips 66 by 0.3%, now owning approximately 9.91% of the company, valued at $4.99 billion.
  • Executive Brian Mandell sold 9,800 shares, marking a 14.71% decrease in his ownership, while Director Sigmund L. Cornelius increased his position by purchasing 500 shares.
  • Phillips 66 announced a quarterly dividend of $1.20, yielding 4.0%, with a payout ratio currently at 115.38%.
  • Want stock alerts on Phillips 66? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Vanguard Group Inc. reduced its position in Phillips 66 (NYSE:PSX - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 40,389,159 shares of the oil and gas company's stock after selling 111,071 shares during the quarter. Vanguard Group Inc. owned about 9.91% of Phillips 66 worth $4,987,253,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its stake in Phillips 66 by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company's stock valued at $466,886,000 after buying an additional 377,132 shares during the period. Endowment Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the 1st quarter worth $211,000. Wealthspire Advisors LLC boosted its position in shares of Phillips 66 by 96.6% in the 1st quarter. Wealthspire Advisors LLC now owns 20,526 shares of the oil and gas company's stock worth $2,535,000 after buying an additional 10,086 shares in the last quarter. McClarren Financial Advisors Inc. purchased a new stake in shares of Phillips 66 in the 1st quarter worth about $80,000. Finally, Cary Street Partners Investment Advisory LLC boosted its position in shares of Phillips 66 by 74.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 421 shares of the oil and gas company's stock worth $52,000 after buying an additional 180 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Michael A. Heim acquired 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 purchase, the director directly owned 12,043 shares of the company's stock, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pease acquired 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 1,939 shares of company stock valued at $237,725 over the last three months. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on PSX shares. Argus upgraded shares of Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Evercore ISI assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 price objective on the stock. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Compass Point began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research note on Friday, July 11th. Ten research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.

Read Our Latest Analysis on Phillips 66

Phillips 66 Stock Down 0.1%

NYSE:PSX traded down $0.16 during trading hours on Friday, hitting $119.14. The stock had a trading volume of 1,694,152 shares, compared to its average volume of 2,537,577. 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 $140.85. The business has a 50 day simple moving average of $123.09 and a two-hundred day simple moving average of $118.91. The company has a market cap of $48.15 billion, a PE ratio of 28.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09.

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

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid 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 (DPR) is 115.38%.

About Phillips 66

(Free Report)

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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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