Integrated Advisors Network LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Integrated Advisors Network LLC lowered its stake in Phillips 66 (NYSE:PSX) by 2.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 5,651 shares of the oil and gas company’s stock after selling 116 shares during the quarter. Integrated Advisors Network LLC’s holdings in Phillips 66 were worth $743,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FORVIS Wealth Advisors LLC raised its position in shares of Phillips 66 by 2.4% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 3,534 shares of the oil and gas company’s stock worth $577,000 after purchasing an additional 83 shares during the last quarter. Norden Group LLC increased its position in shares of Phillips 66 by 73.2% during the first quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock worth $611,000 after purchasing an additional 1,582 shares in the last quarter. Mission Wealth Management LP raised its stake in Phillips 66 by 3.8% in the 1st quarter. Mission Wealth Management LP now owns 5,066 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after purchasing an additional 39,775 shares in the last quarter. Finally, Schear Investment Advisers LLC boosted its stake in Phillips 66 by 25.5% during the 1st quarter. Schear Investment Advisers LLC now owns 6,152 shares of the oil and gas company’s stock worth $1,005,000 after purchasing an additional 1,251 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSX. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX opened at $121.82 on Friday. The firm has a market capitalization of $50.99 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08. 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 firm’s 50-day moving average is $131.58 and its two-hundred day moving average is $138.09.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the business earned $4.63 EPS. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts predict that Phillips 66 will post 7.81 EPS for the current 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 issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

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.