Phillips 66 $PSX Shares Sold by Signature Estate & Investment Advisors LLC

Signature Estate & Investment Advisors LLC trimmed its position in Phillips 66 (NYSE:PSX) by 12.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,768 shares of the oil and gas company’s stock after selling 240 shares during the quarter. Signature Estate & Investment Advisors LLC’s holdings in Phillips 66 were worth $218,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Scotiabank reiterated a “sector perform” rating and issued a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. TD Cowen raised their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 target price on the stock. Finally, Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $135.80.

Phillips 66 Stock Down 0.7%

PSX stock opened at $131.35 on Thursday. The firm has a market cap of $53.08 billion, a PE ratio of 31.57, a PEG ratio of 2.06 and a beta of 1.15. 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’s 50 day moving average price is $126.75 and its 200-day moving average price is $119.52. Phillips 66 has a one year low of $91.01 and a one year high of $140.60.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the company earned $2.31 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared 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. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is presently 115.38%.

Insider Activity

In other news, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred 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 sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. 0.22% of the stock is owned by corporate insiders.

About Phillips 66

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.