Chickasaw Capital Management LLC Sells 4,291 Shares of Phillips 66 (NYSE:PSX)

Chickasaw Capital Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 3.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 141,050 shares of the oil and gas company’s stock after selling 4,291 shares during the period. Phillips 66 comprises 0.8% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Chickasaw Capital Management LLC’s holdings in Phillips 66 were worth $18,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Phillips 66 during the 1st quarter valued at $25,000. Keener Financial Planning LLC purchased a new stake in Phillips 66 during the 1st quarter worth about $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth about $28,000. Ruedi Wealth Management Inc. grew its holdings in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 96 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.1 %

PSX stock traded down $0.07 during trading on Friday, hitting $136.35. 1,460,749 shares of the company traded hands, compared to its average volume of 2,708,807. The company has a 50-day moving average of $133.24 and a 200-day moving average of $141.61. 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 1 year low of $107.85 and a 1 year high of $174.08. The firm has a market capitalization of $57.81 billion, a PE ratio of 10.49, a P/E/G ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for 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%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $3.87 earnings per share. Analysts predict that Phillips 66 will post 8.19 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.37%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research note on Tuesday. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday. Barclays dropped their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.21.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Company 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.