Weaver C. Barksdale & Associates Inc. Sells 1,453 Shares of Phillips 66 (NYSE:PSX)

Weaver C. Barksdale & Associates Inc. trimmed its stake in Phillips 66 (NYSE:PSX) by 9.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,730 shares of the oil and gas company’s stock after selling 1,453 shares during the period. Phillips 66 makes up about 2.0% of Weaver C. Barksdale & Associates Inc.’s portfolio, making the stock its 15th biggest position. Weaver C. Barksdale & Associates Inc.’s holdings in Phillips 66 were worth $2,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Madison Park Capital Advisors LLC boosted its position in Phillips 66 by 3.0% in the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares during the period. Warwick Investment Management Inc. increased its position in shares of Phillips 66 by 3.1% in the 4th quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the period. MV Capital Management Inc. lifted its holdings in shares of Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares during the period. HCR Wealth Advisors raised its holdings in shares of Phillips 66 by 2.9% during the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 74 shares during the last quarter. Finally, Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after buying an additional 74 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $132.56 on Friday. The business’s 50 day moving average is $135.37 and its two-hundred day moving average is $143.79. The company has a market cap of $55.49 billion, a P/E ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.87 EPS. On average, equities analysts expect that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.47%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Piper Sandler reduced their target price 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. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Argus reiterated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Barclays boosted their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Finally, Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $155.29.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by company insiders.

About Phillips 66

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.