Phillips 66 $PSX Shares Sold by SWS Partners

Key Points

• SWS Partners has reduced its stake in Phillips 66 by 9.6%, now owning 18,598 shares valued at approximately $2.2 million after selling 1,974 shares during the 2nd quarter.
• Phillips 66 reported a quarterly earnings per share (EPS) of $2.38, surpassing analysts' expectations, with total revenue for the quarter of $33.77 billion.
• The company recently declared a quarterly dividend of $1.20 per share, leading to an annualized dividend yield of 3.4% with a payout ratio of 115.38%.

SWS Partners reduced its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 18,598 shares of the oil and gas company's stock after selling 1,974 shares during the quarter. SWS Partners' holdings in Phillips 66 were worth $2,219,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PSX. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company's stock worth $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $29,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 0.3%

Shares of NYSE:PSX opened at $139.45 on Monday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The company's 50 day moving average is $127.94 and its two-hundred day moving average is $120.14. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $56.35 billion, a PE ratio of 33.52, a P/E/G ratio of 1.98 and a beta of 1.15.

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 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the firm posted $2.31 EPS. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Cantor Fitzgerald assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. Piper Sandler increased their target price on shares of Phillips 66 from $144.00 to $154.00 and gave the stock a "neutral" rating in a report on Thursday, September 11th. Wells Fargo & Company reduced 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. Finally, UBS Group increased their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, September 22nd. One 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $139.38.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total value of $593,055.00. Following the transaction, the executive vice president directly owned 38,980 shares of the company's stock, valued at $5,262,300. This trade represents a 10.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the transaction, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 9,850 shares of company stock valued at $1,188,910. Corporate insiders own 0.22% of the company's stock.

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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