Phillips 66 (NYSE:PSX) Position Reduced by Savant Capital LLC

Savant Capital LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,327 shares of the oil and gas company’s stock after selling 425 shares during the quarter. Savant Capital LLC’s holdings in Phillips 66 were worth $592,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Geode Capital Management LLC raised its stake in shares of Phillips 66 by 8.0% during the fourth quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock valued at $463,230,000 after acquiring an additional 396,796 shares in the last quarter. CWM LLC raised its stake in Phillips 66 by 663.4% in the first quarter. CWM LLC now owns 11,435 shares of the oil and gas company’s stock worth $1,088,000 after buying an additional 9,937 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in Phillips 66 by 21.0% in the first quarter. Capital Investment Advisory Services LLC now owns 796 shares of the oil and gas company’s stock worth $76,000 after buying an additional 138 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Phillips 66 in the first quarter worth approximately $9,658,000. Finally, Burt Wealth Advisors raised its stake in Phillips 66 by 285.7% in the first quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after buying an additional 300 shares in the last quarter. 70.37% of the stock is currently owned by institutional investors.

PSX has been the subject of a number of recent research reports. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Monday, April 29th. They noted that the move was a valuation call. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Cowen boosted their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Raymond James boosted their price objective on shares of Phillips 66 from $110.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. Phillips 66 currently has a consensus rating of “Buy” and an average target price of $117.64.

Shares of PSX stock traded down $3.28 during trading hours on Friday, reaching $95.18. 2,253,205 shares of the company’s stock were exchanged, compared to its average volume of 2,293,578. The stock’s 50 day moving average is $99.89 and its 200-day moving average is $94.23. The company has a market cap of $44.54 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of 1.95 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $121.54.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.70 by $0.32. The business had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the prior year, the firm posted $2.80 earnings per share. Equities analysts anticipate that Phillips 66 will post 7.83 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, August 19th. Phillips 66’s payout ratio is presently 30.74%.

In other Phillips 66 news, Director John E. Lowe purchased 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The shares were acquired at an average cost of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.13% of the company’s stock.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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