Xponance Inc. Sells 2,474 Shares of Phillips 66 (NYSE:PSX)

Xponance Inc. decreased its holdings in Phillips 66 (NYSE:PSX) by 4.0% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 58,652 shares of the oil and gas company’s stock after selling 2,474 shares during the quarter. Xponance Inc.’s holdings in Phillips 66 were worth $8,280,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crewe Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter valued at about $26,000. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the second quarter worth about $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 during the 4th quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Phillips 66 during the 1st quarter valued at about $28,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PSX. Piper Sandler reduced their price objective on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Scotiabank decreased their price objective on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Phillips 66 Stock Performance

PSX opened at $131.11 on Tuesday. The business’s fifty day moving average is $135.02 and its 200-day moving average is $143.52. The firm has a market cap of $55.58 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 4.67 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the previous year, the firm posted $3.87 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Sell-side analysts expect that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared 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 3.51%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

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.