Godshalk Welsh Capital Management Inc. Decreases Holdings in Phillips 66 (NYSE:PSX)

Godshalk Welsh Capital Management Inc. decreased its stake in Phillips 66 (NYSE:PSX) by 1.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,625 shares of the oil and gas company’s stock after selling 150 shares during the period. Godshalk Welsh Capital Management Inc.’s holdings in Phillips 66 were worth $1,076,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Vanguard Group Inc. raised its holdings in shares of Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Wellington Management Group LLP grew its holdings in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp increased its position in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners raised its stake 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 buying an additional 1,595,722 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after buying an additional 111,261 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on PSX. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. 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. Raymond James raised their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Wolfe Research initiated coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $155.29.

Phillips 66 Stock Performance

Phillips 66 stock opened at $132.56 on Friday. The firm has a fifty day simple moving average of $135.37 and a two-hundred day simple moving average of $143.79. 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 twelve month low of $107.85 and a twelve month high of $174.08. The company has a market capitalization of $55.49 billion, a PE ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the company posted $3.87 EPS. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts expect that Phillips 66 will post 9.25 EPS for the current 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 issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio is 35.38%.

Insider Buying and Selling

In other Phillips 66 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by 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.