Proficio Capital Partners LLC Sells 145,495 Shares of Phillips 66 (NYSE:PSX)

Proficio Capital Partners LLC cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 98.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,708 shares of the oil and gas company's stock after selling 145,495 shares during the period. Proficio Capital Partners LLC's holdings in Phillips 66 were worth $211,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. VSM Wealth Advisory LLC purchased a new position in Phillips 66 during the first quarter worth about $102,000. PFG Advisors raised its holdings in Phillips 66 by 24.7% during the first quarter. PFG Advisors now owns 2,962 shares of the oil and gas company's stock worth $366,000 after purchasing an additional 586 shares in the last quarter. Wealth Alliance LLC raised its holdings in Phillips 66 by 14.8% during the first quarter. Wealth Alliance LLC now owns 3,506 shares of the oil and gas company's stock worth $433,000 after purchasing an additional 453 shares in the last quarter. Lindbrook Capital LLC increased its holdings in Phillips 66 by 5.4% in the first quarter. Lindbrook Capital LLC now owns 3,478 shares of the oil and gas company's stock valued at $429,000 after buying an additional 178 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Phillips 66 by 23.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 252,730 shares of the oil and gas company's stock valued at $31,207,000 after buying an additional 47,855 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president directly owned 43,373 shares of the company's stock, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PSX shares. Citigroup cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. UBS Group decreased their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Piper Sandler cut their target price on shares of Phillips 66 from $148.00 to $147.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, Compass Point started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $135.20.

Phillips 66 Stock Performance

Phillips 66 stock traded down $3.67 during midday trading on Thursday, reaching $124.18. 3,505,930 shares of the stock traded hands, compared to its average volume of 2,756,013. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $121.57 and a two-hundred day moving average price of $118.52. The firm has a market cap of $50.59 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 1.95 and a beta of 1.02. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the firm earned $1.90 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.87%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio is currently 109.34%.

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.