Phillips 66 (NYSE:PSX) Shares Sold by Texas Yale Capital Corp.

Key Points

• Texas Yale Capital Corp. has reduced its stake in Phillips 66 by 20.2%, now owning 40,698 shares valued at approximately $5,025,000.
• Phillips 66 recently reported quarterly earnings of $2.38 per share, surpassing the consensus estimate by $0.59, with revenues totaling $33.77 billion.
• The company also announced a quarterly dividend of $1.20, with a dividend yield of 3.84%, reflecting a payout ratio of 115.38%.

Texas Yale Capital Corp. lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 20.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,698 shares of the oil and gas company's stock after selling 10,325 shares during the period. Texas Yale Capital Corp.'s holdings in Phillips 66 were worth $5,025,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after purchasing an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares in the last quarter. Northern Trust Corp raised its stake in Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after buying an additional 440,107 shares in the last quarter. Norges Bank purchased a new stake in Phillips 66 in the fourth quarter worth about $497,648,000. Finally, Invesco Ltd. boosted its position in Phillips 66 by 9.2% during the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company's stock valued at $468,551,000 after acquiring an additional 347,905 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PSX shares. UBS Group raised their price objective on Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research report on Monday. Mizuho raised their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research report on Wednesday, June 18th. Raymond James Financial set a $142.00 price target on Phillips 66 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Barclays boosted their price target on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 9th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $136.13.

Phillips 66 Trading Up 2.1%

Shares of NYSE:PSX traded up $2.63 during trading hours on Monday, hitting $127.60. 2,690,363 shares of the company's stock traded hands, compared to its average volume of 2,454,802. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The business has a fifty day moving average price of $121.55 and a 200-day moving average price of $118.62. The firm has a market capitalization of $51.99 billion, a P/E ratio of 37.08, a price-to-earnings-growth ratio of 1.82 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88.

Phillips 66 (NYSE:PSX - Get Free Report) last posted 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 net margin of 1.27% and a return on equity of 4.86%. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same quarter in the previous year, the firm posted $2.31 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors 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 yield of 3.76%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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, 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 transaction, the executive vice president directly owned 43,373 shares of the company's stock, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by insiders.

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.