Legacy Financial Advisors Inc. Sells 101 Shares of Phillips 66 (NYSE:PSX)

Legacy Financial Advisors Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 1.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,822 shares of the oil and gas company’s stock after selling 101 shares during the period. Legacy Financial Advisors Inc.’s holdings in Phillips 66 were worth $963,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gryphon Financial Partners LLC increased its stake in Phillips 66 by 11.4% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after buying an additional 426 shares during the last quarter. TrinityPoint Wealth LLC increased its position in shares of Phillips 66 by 14.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 5,170 shares of the oil and gas company’s stock valued at $688,000 after purchasing an additional 672 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of Phillips 66 by 55.1% during the 4th quarter. Clearbridge Investments LLC now owns 33,625 shares of the oil and gas company’s stock worth $4,477,000 after purchasing an additional 11,945 shares during the period. Assetmark Inc. grew its position in Phillips 66 by 792.6% during the fourth quarter. Assetmark Inc. now owns 1,455 shares of the oil and gas company’s stock valued at $194,000 after buying an additional 1,292 shares during the period. Finally, US Bancorp DE grew its position in shares of Phillips 66 by 0.4% during the 4th quarter. US Bancorp DE now owns 263,400 shares of the oil and gas company’s stock valued at $35,070,000 after acquiring an additional 1,017 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

Shares of PSX opened at $129.97 on Friday. The firm has a 50 day moving average of $135.20 and a 200 day moving average of $143.69. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The company has a market capitalization of $55.10 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 4.67 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 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.87 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 9.1 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s payout ratio is 35.38%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSX. TD Cowen cut their price target 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. Scotiabank dropped their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Piper Sandler cut their price target on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday. Finally, Barclays upped their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 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.