Phillips 66 (NYSE:PSX) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 7.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,320 shares of the oil and gas company’s stock after selling 185 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Phillips 66 were worth $305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PSX. Wellington Management Group LLP raised its position in shares of Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Boston Partners raised its holdings in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after purchasing an additional 1,408,954 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $138.62 on Friday. The business has a 50-day simple moving average of $133.83 and a 200-day simple moving average of $142.29. The company has a market cap of $58.02 billion, a PE ratio of 10.66, a P/E/G ratio of 5.46 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. 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 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating 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 net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 EPS. On average, equities research analysts forecast that Phillips 66 will post 8.21 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.32%. Phillips 66’s payout ratio is currently 35.38%.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on PSX shares. Piper Sandler cut their price target on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating for the company in a report on Friday, September 20th. Wolfe Research initiated coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Morgan Stanley dropped their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday, September 3rd. Finally, Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.71.

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.