Montag A & Associates Inc. Cuts Stake in Phillips 66 (NYSE:PSX)

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Montag A & Associates Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,403 shares of the oil and gas company’s stock after selling 150 shares during the period. Montag A & Associates Inc.’s holdings in Phillips 66 were worth $451,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Advisors Preferred LLC purchased a new position in shares of Phillips 66 in the second quarter worth approximately $25,000. TRUE Private Wealth Advisors bought a new stake in Phillips 66 during the 2nd quarter worth approximately $26,000. Atwater Malick LLC bought a new stake in Phillips 66 during the 3rd quarter worth approximately $27,000. Manchester Financial Inc. bought a new stake in Phillips 66 during the 2nd quarter worth approximately $32,000. Finally, Coastal Capital Group Inc. bought a new stake in Phillips 66 during the 2nd quarter worth approximately $37,000. 69.33% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

PSX has been the topic of a number of recent analyst reports. Scotiabank initiated coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They set an “outperform” rating on the stock. Morgan Stanley raised their target price on shares of Phillips 66 from $102.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Macquarie initiated coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating on the stock. Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $118.80.

Shares of Phillips 66 stock traded up $0.13 on Friday, hitting $119.70. 1,556,669 shares of the company traded hands, compared to its average volume of 2,631,109. The stock has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $119.92. The business has a 50-day simple moving average of $108.48 and a 200 day simple moving average of $97.69.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.51. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same quarter last year, the business posted $3.10 earnings per share. Research analysts expect that Phillips 66 will post 8.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, November 15th. Phillips 66’s payout ratio is currently 30.74%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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