Infrastructure Capital Advisors LLC Sells 28,802 Shares of Phillips 66 $PSX

Infrastructure Capital Advisors LLC decreased its stake in Phillips 66 (NYSE:PSX) by 66.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,865 shares of the oil and gas company’s stock after selling 28,802 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Phillips 66 were worth $2,708,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Clifford Group LLC boosted its holdings in Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Phillips 66 by 0.8% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock worth $1,504,000 after purchasing an additional 65 shares during the period. CYBER HORNET ETFs LLC raised its position in shares of Phillips 66 by 5.7% during the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Phillips 66 by 2.3% during the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares during the last quarter. Finally, Johnson Financial Group Inc. lifted its stake in shares of Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PSX shares. The Goldman Sachs Group lifted their target price on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Jefferies Financial Group lifted their price objective on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. Finally, Argus upped their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $201.72.

Insider Activity at Phillips 66

In related news, Director Kevin Omar Meyers purchased 175 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 41,021 shares of company stock worth $7,195,257. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $207.72 on Tuesday. The firm has a market cap of $83.28 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 0.16 and a beta of 0.69. The firm’s 50-day simple moving average is $183.09 and its 200-day simple moving average is $168.98. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the prior year, the business posted ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 50.05%.

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.