Wetzel Investment Advisors Inc. Lowers Position in Phillips 66 (NYSE:PSX)

Wetzel Investment Advisors Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX) by 6.7% in the second quarter, Holdings Channel.com reports. The fund owned 1,364 shares of the oil and gas company’s stock after selling 98 shares during the period. Wetzel Investment Advisors Inc.’s holdings in Phillips 66 were worth $193,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PSX. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the first quarter valued at about $25,000. Keener Financial Planning LLC purchased a new stake in shares of Phillips 66 in the first quarter worth about $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 during the second quarter valued at approximately $26,000. Ables Iannone Moore & Associates Inc. purchased a new position in Phillips 66 during the 4th quarter valued at approximately $27,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Phillips 66 in the 1st quarter worth approximately $28,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX stock opened at $126.89 on Wednesday. The stock has a 50 day moving average price of $136.63 and a 200 day moving average price of $144.59. The firm has a market capitalization of $53.80 billion, a P/E ratio of 9.76, a P/E/G ratio of 2.31 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a 52-week low of $107.85 and a 52-week 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 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. The business 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 business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $3.87 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a $1.15 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Ratings Changes

A number of research firms have recently commented on PSX. Argus reiterated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Raymond James boosted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Barclays lifted their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Mizuho decreased their price objective on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Five research 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $157.85.

Insiders Place Their Bets

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