Phillips 66 (NYSE:PSX) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 17.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,084 shares of the oil and gas company’s stock after selling 5,653 shares during the quarter. Clearbridge Investments LLC’s holdings in Phillips 66 were worth $3,823,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC acquired a new position in shares of Phillips 66 during the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter worth about $28,000. Ruedi Wealth Management Inc. lifted its position in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at $27,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Shares of PSX opened at $138.62 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market cap of $58.77 billion, a price-to-earnings ratio of 10.66, a PEG ratio of 5.28 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a 50-day moving average of $133.83 and a two-hundred day moving average of $142.29.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.87 EPS. On average, equities research analysts expect that Phillips 66 will post 8.27 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors 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 yield of 3.32%. Phillips 66’s payout ratio is 35.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PSX shares. Wells Fargo & Company increased their price target on Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday. Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Finally, Morgan Stanley decreased their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $152.71.

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.