Great Valley Advisor Group Inc. Sells 537 Shares of Phillips 66 (NYSE:PSX)

Great Valley Advisor Group Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,232 shares of the oil and gas company’s stock after selling 537 shares during the period. Great Valley Advisor Group Inc.’s holdings in Phillips 66 were worth $2,150,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crewe Advisors LLC bought a new position in Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the first quarter valued at about $28,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $31,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Mizuho cut their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, June 20th. Wolfe Research began coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. TD Cowen lifted their price objective on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

Phillips 66 Trading Up 2.3 %

NYSE PSX opened at $137.70 on Thursday. The company has a market cap of $58.38 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 2.37 and a beta of 1.34. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The business has a 50 day moving average price of $138.15 and a 200-day moving average price of $145.98. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.87 earnings per share. As a group, equities analysts expect that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.34%. Phillips 66’s dividend payout ratio (DPR) is currently 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.