Phillips 66 (NYSE:PSX) Shares Sold by WESPAC Advisors LLC

WESPAC Advisors LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 51.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,728 shares of the oil and gas company’s stock after selling 3,903 shares during the quarter. WESPAC Advisors LLC’s holdings in Phillips 66 were worth $526,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC purchased a new position in Phillips 66 in the first quarter valued at about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Finally, First United Bank & Trust acquired a new stake in shares of Phillips 66 in the 4th quarter worth approximately $31,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on PSX shares. Argus reissued a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Barclays lifted their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their target price 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. Finally, StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five research 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 has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by insiders.

Phillips 66 Trading Up 2.8 %

Shares of PSX traded up $3.81 during trading hours on Friday, hitting $140.31. The stock had a trading volume of 3,981,538 shares, compared to its average volume of 2,628,280. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market cap of $59.48 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.43 and a beta of 1.34. 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 company’s fifty day simple moving average is $137.81 and its 200 day simple moving average is $145.27.

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, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for 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% compared to the same quarter last year. During the same period last year, the business posted $3.87 EPS. Equities research analysts forecast that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.28%. Phillips 66’s dividend payout ratio (DPR) is 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.