Phillips 66 $PSX Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 7.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 119,261 shares of the oil and gas company’s stock after selling 9,053 shares during the period. Rafferty Asset Management LLC’s holdings in Phillips 66 were worth $16,222,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PSX. Evolution Wealth Management Inc. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Phillips 66 in the second quarter valued at $32,000. Winnow Wealth LLC purchased a new position in shares of Phillips 66 during the third quarter worth about $36,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the second quarter worth about $38,000. Finally, Operose Advisors LLC increased its position in shares of Phillips 66 by 260.4% during the second quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.0%

PSX opened at $153.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.87 and a current ratio of 1.30. The company has a market cap of $61.68 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.54 and a beta of 0.90. Phillips 66 has a one year low of $91.01 and a one year high of $163.79. The business’s fifty day moving average is $144.05 and its two-hundred day moving average is $137.27.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter last year, the business posted ($0.15) earnings per share. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a dividend of $1.27 per share. The ex-dividend date is Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.3%. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James Financial raised their price target on Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Citigroup raised their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Argus lifted their target price on shares of Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, February 10th. UBS Group reiterated a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a research note on Friday, February 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Eleven investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Hold” and an average target price of $160.11.

Insider Buying and Selling at Phillips 66

In other news, EVP Don Baldridge sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. This trade represents a 16.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. The trade was a 14.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 41,788 shares of company stock valued at $6,067,250 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.