Phillips 66 (NYSE:PSX) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in Phillips 66 (NYSE:PSX) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,869 shares of the oil and gas company’s stock after selling 6,856 shares during the quarter. Park Avenue Securities LLC’s holdings in Phillips 66 were worth $5,767,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth about $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the first quarter worth about $26,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $27,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter worth approximately $28,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Phillips 66 Stock Performance

Shares of PSX stock traded down $0.31 during mid-day trading on Friday, hitting $138.62. 2,468,549 shares of the stock were exchanged, compared to its average volume of 2,733,967. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The stock has a market capitalization of $58.77 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 5.28 and a beta of 1.33. The stock’s fifty day simple moving average is $133.83 and its two-hundred day simple moving average is $142.39.

Phillips 66 (NYSE:PSX) last released its quarterly 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 company had revenue of $38.91 billion for 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 firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.87 earnings per share. On average, analysts forecast that Phillips 66 will post 8.27 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

Several brokerages have commented on PSX. Scotiabank decreased their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays increased their price target on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.71.

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.