Phillips 66 $PSX Holdings Trimmed by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 22.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,406 shares of the oil and gas company's stock after selling 5,551 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Phillips 66 were worth $2,315,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PSX. Wolff Wiese Magana LLC boosted its stake 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 valued at $26,000 after buying an additional 82 shares in the last quarter. von Borstel & Associates Inc. bought a new position in Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $29,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 during the first quarter valued at $29,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Down 0.4%

Shares of Phillips 66 stock opened at $132.34 on Wednesday. The stock has a 50-day moving average price of $129.07 and a 200 day moving average price of $120.51. The company has a market cap of $53.48 billion, a P/E ratio of 31.81, a P/E/G ratio of 1.91 and a beta of 1.11. 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.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate 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 earned $2.31 EPS. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 115.38%.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of the company's stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Piper Sandler upped their target price on Phillips 66 from $154.00 to $155.00 and gave the company a "neutral" rating in a report on Monday, September 29th. Barclays upped their target price on Phillips 66 from $127.00 to $132.00 and gave the company an "equal weight" rating in a report on Tuesday. Citigroup downgraded Phillips 66 from a "buy" rating to a "neutral" rating and upped their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Phillips 66 in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a report on Wednesday, June 18th. 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. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $140.50.

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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