Pacer Advisors Inc. Sells 1,831,915 Shares of Phillips 66 $PSX

Pacer Advisors Inc. cut its stake in shares of Phillips 66 (NYSE:PSX) by 97.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,790 shares of the oil and gas company’s stock after selling 1,831,915 shares during the quarter. Pacer Advisors Inc.’s holdings in Phillips 66 were worth $6,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. CWC Advisors LLC. lifted its holdings in shares of Phillips 66 by 0.6% during the 3rd quarter. CWC Advisors LLC. now owns 13,351 shares of the oil and gas company’s stock worth $1,816,000 after acquiring an additional 80 shares during the last quarter. Wolff Wiese Magana LLC increased its stake in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC raised its position in Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC lifted its stake in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares during the last quarter. Finally, XML Financial LLC lifted its stake in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 81,700 shares of company stock valued at $11,318,236. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSX. Evercore ISI raised their price objective on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. UBS Group reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Phillips 66 in a research note on Monday, November 10th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $147.82.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $128.56 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The company has a 50-day moving average price of $135.70 and a 200-day moving average price of $130.60. The company has a market cap of $51.80 billion, a price-to-earnings ratio of 35.12, a price-to-earnings-growth ratio of 0.67 and a beta of 0.92. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $144.96.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the previous year, the business earned $2.04 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. Phillips 66’s payout ratio is 131.15%.

About Phillips 66

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.