Rhumbline Advisers Sells 7,181 Shares of Phillips 66 $PSX

Rhumbline Advisers cut its holdings in shares of Phillips 66 (NYSE:PSX) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 788,845 shares of the oil and gas company’s stock after selling 7,181 shares during the period. Rhumbline Advisers owned approximately 0.20% of Phillips 66 worth $107,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at about $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Phillips 66 in the second quarter worth approximately $32,000. Winnow Wealth LLC bought a new stake in Phillips 66 in the 3rd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Phillips 66 during the 2nd quarter valued at $38,000. Finally, Operose Advisors LLC lifted its holdings in shares of Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,488 shares of company stock worth $8,474,466 over the last three months. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $161.32 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $161.53. The business has a 50 day simple moving average of $139.65 and a two-hundred day simple moving average of $134.43. The stock has a market capitalization of $65.00 billion, a PE ratio of 14.91, a P/E/G ratio of 0.56 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the previous year, the business posted ($0.15) earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a $1.27 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is 44.36%.

Analyst Ratings Changes

Several analysts recently commented on PSX shares. Citigroup lifted their price objective on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday. Wolfe Research boosted their price target on Phillips 66 from $159.00 to $164.00 and gave the company an “outperform” rating in a research note on Monday, January 26th. Raymond James Financial upped their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, January 23rd. Barclays raised their price objective on Phillips 66 from $141.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 13th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $157.18.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.