Phillips 66 $PSX Shares Sold by MGO One Seven LLC

Key Points

• MGO One Seven LLC decreased its stake in Phillips 66 by 31% during Q2, now holding 6,925 shares valued at approximately $826,000.
• Analysts have raised their target prices for Phillips 66, with UBS Group increasing their target from $143 to $150 while maintaining a "buy" rating.
• Phillips 66 announced a quarterly dividend of $1.20 per share, payable on December 1st, representing a 3.7% dividend yield.

MGO One Seven LLC lowered its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 31.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,925 shares of the oil and gas company's stock after selling 3,113 shares during the quarter. MGO One Seven LLC's holdings in Phillips 66 were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings 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 worth $26,000 after purchasing an additional 82 shares in the last quarter. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the first quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $28,000. Smallwood Wealth Investment Management LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $29,000. Finally, Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 during the first quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, September 22nd. Bank of America lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and raised their target price for the stock from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Raymond James Financial raised their target price on shares of Phillips 66 from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Tuesday, September 9th. Evercore ISI raised their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, September 19th. Finally, TD Cowen raised their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.75.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $128.37 on Friday. The firm has a market capitalization of $51.88 billion, a P/E ratio of 30.86, a PEG ratio of 1.80 and a beta of 1.11. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The company's fifty day moving average is $130.23 and its two-hundred day moving average is $120.78. 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 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion for 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 in the previous year, the firm earned $2.31 EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66's payout ratio is presently 115.38%.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius bought 500 shares of the firm's stock in a transaction on Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president owned 34,587 shares in the company, valued at $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. Insiders have purchased a total of 9,850 shares of company stock valued at $1,188,910 over the last 90 days. Company insiders own 0.22% of the company's stock.

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.

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