Phillips 66 $PSX Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,129 shares of the oil and gas company’s stock after selling 185 shares during the quarter. Cigna Investments Inc. New’s holdings in Phillips 66 were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC bought a new position in Phillips 66 in the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PSX shares. Morgan Stanley increased their price objective on Phillips 66 from $122.00 to $128.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Tudor Pickering lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Barclays increased their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 9th. Mizuho increased their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.20.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $133.69 on Tuesday. The stock has a fifty day moving average price of $125.28 and a two-hundred day moving average price of $119.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $54.03 billion, a P/E ratio of 32.14, a PEG ratio of 1.81 and a beta of 1.15. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company posted $2.31 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling at Phillips 66

In related news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average cost of $125.97 per share, with a total value of $125,970.00. Following the purchase, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sigmund L. Cornelius acquired 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is owned by 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.