GW Henssler & Associates Ltd. Sells 6,143 Shares of Phillips 66 $PSX

Key Points

• GW Henssler & Associates Ltd. reduced its position in Phillips 66 by 58.2% in Q1, now holding 4,406 shares valued at approximately $544,000.
• Multiple hedge funds have recently increased their holdings in Phillips 66, with institutional investors owning 76.93% of the company's stock.
• Phillips 66 recently announced a quarterly dividend of $1.20 per share, representing an annualized payout of $4.80 with a dividend yield of 3.6%.

GW Henssler & Associates Ltd. cut its position in Phillips 66 (NYSE:PSX - Free Report) by 58.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,406 shares of the oil and gas company's stock after selling 6,143 shares during the quarter. GW Henssler & Associates Ltd.'s holdings in Phillips 66 were worth $544,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Forum Financial Management LP raised its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after buying an additional 77 shares in the last quarter. WealthTrust Axiom LLC raised its holdings in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after buying an additional 81 shares in the last quarter. CWC Advisors LLC. increased its position in Phillips 66 by 1.0% during the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares in the last quarter. Hager Investment Management Services LLC increased its position in Phillips 66 by 7.2% during the 1st quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after purchasing an additional 96 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Phillips 66 by 14.4% during the 1st quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Activity at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of the firm's stock in a transaction dated Thursday, August 14th. The stock was bought at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the firm's stock in a transaction dated Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 9,850 shares of company stock valued at $1,188,910 over the last 90 days. 0.22% of the stock is owned by company insiders.

Phillips 66 Trading Down 0.1%

Shares of PSX stock traded down $0.14 on Friday, hitting $131.44. The company had a trading volume of 1,828,526 shares, compared to its average volume of 1,927,008. The firm has a market cap of $53.12 billion, a P/E ratio of 31.60, a P/E/G ratio of 2.05 and a beta of 1.15. The stock's 50-day moving average is $126.26 and its two-hundred day moving average is $119.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating 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 company had revenue of $33.77 billion during the quarter, compared to analysts' expectations of $32.11 billion. During the same quarter in the prior year, the firm posted $2.31 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. Bank of America cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $144.00 to $147.00 in a research report on Wednesday. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Morgan Stanley upped their price objective on shares of Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Scotiabank reiterated a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a research report on Friday, July 11th. Finally, TD Cowen upped their price objective on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $135.60.

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.