Phillips 66 $PSX Stock Position Decreased by Annex Advisory Services LLC

Key Points

• Annex Advisory Services LLC has reduced its stake in Phillips 66 by 37.7% in the second quarter, now holding 6,027 shares valued at $719,000.
• The company reported earnings per share of $2.38, exceeding analyst expectations of $1.79, alongside a revenue of $33.77 billion for the quarter.
• Phillips 66 recently declared a quarterly dividend of $1.20, translating to an annualized yield of 3.7% despite a payout ratio of 115.38%.

Annex Advisory Services LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 37.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,027 shares of the oil and gas company's stock after selling 3,649 shares during the period. Annex Advisory Services LLC's holdings in Phillips 66 were worth $719,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. State of Wyoming boosted its holdings in shares of Phillips 66 by 106.3% in the 4th quarter. State of Wyoming now owns 1,857 shares of the oil and gas company's stock valued at $212,000 after buying an additional 957 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Phillips 66 in the fourth quarter valued at about $3,423,000. Two Sigma Advisers LP purchased a new position in Phillips 66 in the 4th quarter valued at about $5,776,000. Finally, Woodline Partners LP acquired a new stake in shares of Phillips 66 in the fourth quarter worth $2,826,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In other news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. The trade was a 39.62% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the transaction, the executive vice president owned 38,980 shares in the company, valued at approximately $5,262,300. This represents a 10.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PSX shares. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Evercore ISI upped their target price on Phillips 66 from $130.00 to $170.00 and gave the company an "outperform" rating in a report on Friday. Cantor Fitzgerald assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. Bank of America cut Phillips 66 from a "buy" rating to a "neutral" rating and upped their price target for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Barclays boosted their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $139.38.

Phillips 66 Trading Up 0.1%

Phillips 66 stock traded up $0.14 during trading hours on Monday, reaching $129.86. The company had a trading volume of 3,361,899 shares, compared to its average volume of 2,462,234. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.60. The firm has a market cap of $52.48 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 1.86 and a beta of 1.15. The company has a 50-day moving average price of $127.06 and a 200 day moving average price of $119.78.

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 (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period last year, the business earned $2.31 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's payout ratio is currently 115.38%.

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.