Sunbelt Securities Inc. Sells 127 Shares of Phillips 66 (NYSE:PSX)

Sunbelt Securities Inc. lowered its position in Phillips 66 (NYSE:PSX) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,856 shares of the oil and gas company’s stock after selling 127 shares during the period. Sunbelt Securities Inc.’s holdings in Phillips 66 were worth $403,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PSX. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 4.0% in 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 buying an additional 1,578,669 shares in the last quarter. Wellington Management Group LLP increased its position in Phillips 66 by 20.3% in the 4th 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 acquiring an additional 1,842,226 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 5.0% during 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 purchasing an additional 402,925 shares in the last quarter. Boston Partners increased its holdings 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 purchasing an additional 1,595,722 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after purchasing an additional 18,238 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 1.2 %

NYSE PSX opened at $132.99 on Wednesday. The stock has a 50 day moving average of $134.05 and a 200-day moving average of $142.60. 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 $56.38 billion, a PE ratio of 10.23, a PEG ratio of 5.22 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.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent research reports. Wells Fargo & Company boosted their target price on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 3rd. TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Scotiabank reduced their target price 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. Piper Sandler dropped their price target 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. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. 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, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus 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.