Phillips 66 (NYSE:PSX) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp reduced its stake in shares of Phillips 66 (NYSE:PSX) by 3.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 42,349 shares of the oil and gas company’s stock after selling 1,336 shares during the quarter. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $5,978,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the first quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the 1st quarter worth approximately $26,000. Redmont Wealth Advisors LLC bought a new stake in Phillips 66 during the first quarter valued at $28,000. Ruedi Wealth Management Inc. grew its position in shares of 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 valued at $31,000 after buying an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $129.97 on Friday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The stock has a market cap of $55.10 billion, a PE ratio of 10.00, a P/E/G ratio of 4.67 and a beta of 1.33. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock’s 50 day simple moving average is $135.20 and its 200-day simple moving average is $143.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The business 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%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $3.87 EPS. Sell-side analysts forecast that Phillips 66 will post 9.1 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared 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 of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on PSX shares. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Morgan Stanley dropped their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their price target 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. Finally, Piper Sandler dropped their price objective on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.21.

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.