W.G. Shaheen & Associates DBA Whitney & Co Lowers Position in Phillips 66 (NYSE:PSX)

W.G. Shaheen & Associates DBA Whitney & Co reduced its position in shares of Phillips 66 (NYSE:PSX) by 4.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,406 shares of the oil and gas company’s stock after selling 100 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Phillips 66 were worth $340,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 during the first quarter worth $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 in the fourth quarter worth $27,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth $28,000. Finally, First United Bank & Trust acquired a new position in shares of Phillips 66 during the 4th quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $140.31 on Friday. The firm’s 50-day moving average is $137.85 and its two-hundred day moving average is $145.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock has a market capitalization of $58.73 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.53 and a beta of 1.34. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. Phillips 66’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.87 EPS. Equities analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, August 20th. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent analyst reports. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Scotiabank decreased their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. TD Cowen raised their price objective on Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Finally, Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.38.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’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 transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

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.