Phillips 66 (NYSE:PSX) Shares Sold by Consolidated Planning Corp

Consolidated Planning Corp reduced its holdings in Phillips 66 (NYSE:PSX) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,621 shares of the oil and gas company’s stock after selling 1,721 shares during the quarter. Consolidated Planning Corp’s holdings in Phillips 66 were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Forum Financial Management LP lifted its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after acquiring an additional 77 shares during the period. NewEdge Wealth LLC increased its position in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc increased its position in Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares in the last quarter. Nwam LLC increased its position in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE PSX opened at $124.87 on Monday. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $50.88 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02. The company has a 50 day moving average price of $112.45 and a two-hundred day moving average price of $117.05. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

Insider Buying and Selling

In related news, Director Robert W. Pease bought 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares of the company’s stock, valued at $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the sale, the executive vice president now directly owns 56,838 shares in the company, valued at $7,104,750. This trade represents a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSX. TD Cowen increased their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Raymond James Financial dropped their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Mizuho increased their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 13th. Finally, Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $133.93.

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.