Harbor Investment Advisory LLC Trims Stock Position in Phillips 66 (NYSE:PSX)

Harbor Investment Advisory LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,072 shares of the oil and gas company’s stock after selling 237 shares during the period. Harbor Investment Advisory LLC’s holdings in Phillips 66 were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Cetera Advisor Networks LLC increased its position in shares of Phillips 66 by 2.4% during the fourth quarter. Cetera Advisor Networks LLC now owns 68,939 shares of the oil and gas company’s stock valued at $9,179,000 after acquiring an additional 1,644 shares during the last quarter. Stephens Inc. AR increased its position in shares of Phillips 66 by 0.6% during the fourth quarter. Stephens Inc. AR now owns 14,608 shares of the oil and gas company’s stock valued at $1,945,000 after acquiring an additional 87 shares during the last quarter. Morningstar Investment Services LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $351,000. Schroder Investment Management Group increased its position in shares of Phillips 66 by 15.2% during the fourth quarter. Schroder Investment Management Group now owns 224,862 shares of the oil and gas company’s stock valued at $29,938,000 after acquiring an additional 29,734 shares during the last quarter. Finally, Evercore Wealth Management LLC increased its position in shares of Phillips 66 by 1.3% during the fourth quarter. Evercore Wealth Management LLC now owns 13,457 shares of the oil and gas company’s stock valued at $1,792,000 after acquiring an additional 172 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’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 completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PSX shares. Wells Fargo & Company lifted their price objective 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. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. TD Cowen dropped their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Mizuho dropped their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $152.71.

Phillips 66 Stock Down 0.2 %

Shares of Phillips 66 stock opened at $138.62 on Friday. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a 50 day moving average of $133.83 and a 200 day moving average of $142.29. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $58.02 billion, a P/E ratio of 10.66, a P/E/G ratio of 5.46 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share 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 net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.87 EPS. As a group, research analysts forecast that Phillips 66 will post 8.21 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

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.