Phillips 66 $PSX Stake Lessened by Resources Management Corp CT ADV

Resources Management Corp CT ADV lessened its stake in Phillips 66 (NYSE:PSX) by 78.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 7,273 shares of the oil and gas company’s stock after selling 26,630 shares during the quarter. Resources Management Corp CT ADV’s holdings in Phillips 66 were worth $939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Board of the Pension Protection Fund bought a new stake in Phillips 66 during the fourth quarter valued at $26,000. Accordant Advisory Group Inc increased its stake in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in Phillips 66 during the fourth quarter valued at $27,000. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PSX shares. Piper Sandler boosted their price target on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. Scotiabank boosted their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Barclays boosted their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a report on Wednesday, April 8th. Citigroup boosted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Finally, Wolfe Research boosted their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a report on Monday, April 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.33.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $172.90 on Tuesday. Phillips 66 has a twelve month low of $118.00 and a twelve month high of $190.61. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $69.32 billion, a price-to-earnings ratio of 17.03, a PEG ratio of 0.26 and a beta of 0.68. The firm has a 50-day moving average of $172.42 and a two-hundred day moving average of $158.19.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.90) EPS. As a group, analysts expect that Phillips 66 will post 17.95 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio is currently 50.05%.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 45,629 shares of company stock worth $8,071,540 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Phillips 66 Company 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.