F&V Capital Management LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX – Free Report) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,900 shares of the oil and gas company’s stock after selling 880 shares during the period. Phillips 66 makes up approximately 4.0% of F&V Capital Management LLC’s portfolio, making the stock its 9th biggest holding. F&V Capital Management LLC’s holdings in Phillips 66 were worth $12,390,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the business. Alta Capital Management LLC grew its stake in shares of Phillips 66 by 2.0% during the 2nd quarter. Alta Capital Management LLC now owns 38,052 shares of the oil and gas company’s stock worth $3,629,000 after purchasing an additional 761 shares during the period. Osborne Partners Capital Management LLC boosted its holdings in Phillips 66 by 1.5% during the second quarter. Osborne Partners Capital Management LLC now owns 69,317 shares of the oil and gas company’s stock worth $6,611,000 after buying an additional 1,014 shares in the last quarter. Sendero Wealth Management LLC purchased a new stake in Phillips 66 during the second quarter worth about $451,000. International Assets Investment Management LLC boosted its holdings in Phillips 66 by 95.5% during the second quarter. International Assets Investment Management LLC now owns 93,888 shares of the oil and gas company’s stock worth $1,120,000 after buying an additional 45,866 shares in the last quarter. Finally, Viking Fund Management LLC boosted its holdings in Phillips 66 by 138.2% during the second quarter. Viking Fund Management LLC now owns 81,000 shares of the oil and gas company’s stock worth $7,726,000 after buying an additional 47,000 shares in the last quarter. Hedge funds and other institutional investors own 71.83% of the company’s stock.
Phillips 66 Trading Down 2.6 %
NYSE PSX traded down $3.23 during mid-day trading on Friday, reaching $120.15. 2,841,901 shares of the stock were exchanged, compared to its average volume of 3,034,487. Phillips 66 has a 1-year low of $79.37 and a 1-year high of $125.19. The business’s fifty day simple moving average is $115.64 and its 200 day simple moving average is $103.91. The stock has a market capitalization of $53.50 billion, a PE ratio of 5.21, a PEG ratio of 0.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.33.
Phillips 66 (NYSE:PSX – Get Free Report) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.33. Phillips 66 had a net margin of 6.81% and a return on equity of 26.25%. The firm had revenue of $35.74 billion for the quarter, compared to analyst estimates of $32.13 billion. During the same quarter last year, the business earned $6.77 earnings per share. On average, research analysts anticipate that Phillips 66 will post 16.57 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were paid a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Thursday, August 17th. Phillips 66’s payout ratio is 18.22%.
Wall Street Analyst Weigh In
A number of research firms recently commented on PSX. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $130.00 to $144.00 and gave the stock an “overweight” rating in a report on Friday, September 8th. Mizuho boosted their target price on Phillips 66 from $127.00 to $131.00 and gave the stock a “neutral” rating in a research report on Monday, September 18th. Piper Sandler boosted their target price on Phillips 66 from $130.00 to $136.00 in a research report on Friday, August 4th. Argus boosted their target price on Phillips 66 from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, Raymond James upped their price target on shares of Phillips 66 from $125.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, September 20th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $129.73.
Insiders Place Their Bets
In other Phillips 66 news, EVP Brian Mandell sold 3,000 shares of Phillips 66 stock in a transaction on Monday, August 7th. The shares were sold at an average price of $111.84, for a total value of $335,520.00. Following the transaction, the executive vice president now owns 46,451 shares in the company, valued at approximately $5,195,079.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Brian Mandell sold 3,000 shares of Phillips 66 stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $111.84, for a total value of $335,520.00. Following the transaction, the executive vice president now directly owns 46,451 shares of the company’s stock, valued at approximately $5,195,079.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Timothy D. Roberts sold 12,970 shares of Phillips 66 stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $124.41, for a total value of $1,613,597.70. Following the completion of the transaction, the executive vice president now directly owns 80,009 shares in the company, valued at $9,953,919.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 360,648 shares of company stock valued at $41,396,371. Insiders own 4.57% of the company’s stock.
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