Successful Portfolios LLC Sells 283 Shares of Phillips 66 (NYSE:PSX)

Successful Portfolios LLC reduced its position in Phillips 66 (NYSE:PSX) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,865 shares of the oil and gas company’s stock after selling 283 shares during the quarter. Successful Portfolios LLC’s holdings in Phillips 66 were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caxton Associates LP bought a new position in shares of Phillips 66 in the 3rd quarter valued at $320,000. First Dallas Securities Inc. bought a new position in Phillips 66 in the third quarter valued at about $753,000. Waverly Advisors LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $310,000. United Services Automobile Association lifted its stake in Phillips 66 by 14.3% in the 3rd quarter. United Services Automobile Association now owns 12,576 shares of the oil and gas company’s stock valued at $1,511,000 after purchasing an additional 1,569 shares during the last quarter. Finally, Per Stirling Capital Management LLC. acquired a new position in shares of Phillips 66 during the third quarter worth $202,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.3 %

Shares of NYSE PSX opened at $141.17 on Monday. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a market cap of $59.85 billion, a PE ratio of 10.86, a P/E/G ratio of 2.12 and a beta of 1.34. The company’s fifty day simple moving average is $142.91 and its 200 day simple moving average is $144.83. Phillips 66 has a 12-month low of $93.40 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the company earned $4.21 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.26%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays cut their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Piper Sandler lowered their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, TD Cowen lowered their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, June 21st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.79.

Phillips 66 Company Profile

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.