Orleans Capital Management Corp LA Decreases Stock Position in Phillips 66 (NYSE:PSX)

Orleans Capital Management Corp LA reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 7.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,117 shares of the oil and gas company’s stock after selling 170 shares during the quarter. Orleans Capital Management Corp LA’s holdings in Phillips 66 were worth $299,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after purchasing an additional 1,842,226 shares during the last quarter. Boston Partners lifted its position in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after purchasing an additional 1,408,954 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Phillips 66 by 4,556.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after purchasing an additional 932,552 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 0.3 %

Shares of NYSE PSX opened at $131.45 on Tuesday. The stock has a fifty day moving average price of $134.13 and a 200 day moving average price of $142.78. The company has a current ratio of 1.14, a quick ratio of 0.79 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. The company has a market cap of $55.73 billion, a P/E ratio of 10.11, a P/E/G ratio of 5.22 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) 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 return on equity of 16.77% and a net margin of 3.32%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 earnings per share. Research analysts anticipate that Phillips 66 will post 8.27 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced 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 was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is currently 35.38%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSX shares. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Piper Sandler lowered their target price on shares of Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a research note on Friday, September 20th. TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Mizuho reduced 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. 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.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target 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.