Clifford Group LLC Trims Position in Phillips 66 $PSX

Clifford Group LLC lessened its stake in Phillips 66 (NYSE:PSX) by 15.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 3,395 shares of the oil and gas company’s stock after selling 640 shares during the quarter. Clifford Group LLC’s holdings in Phillips 66 were worth $419,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $27,000. von Borstel & Associates Inc. purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $28,000. Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction dated Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. The trade was a 2.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSX. JPMorgan Chase & Co. set a $115.00 target price on shares of Phillips 66 in a research report on Wednesday, June 18th. Tudor Pickering downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 22nd. UBS Group boosted their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 11th. Finally, Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $135.60.

Phillips 66 Stock Performance

PSX opened at $130.64 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a fifty day moving average price of $125.79 and a 200 day moving average price of $119.47. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The stock has a market cap of $52.80 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.81 and a beta of 1.15.

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

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were given a dividend of $1.20 per share. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

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.