SWS Partners Sells 775 Shares of Phillips 66 $PSX

SWS Partners lowered its position in shares of Phillips 66 (NYSE:PSX) by 3.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,572 shares of the oil and gas company’s stock after selling 775 shares during the period. SWS Partners’ holdings in Phillips 66 were worth $2,540,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Phillips 66 by 20.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Alta Advisers Ltd bought a new stake in Phillips 66 during the first quarter worth about $253,000. Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the first quarter worth about $292,000. Finally, Sustainable Insight Capital Management LLC bought a new stake in Phillips 66 during the first quarter worth about $1,457,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PSX. Compass Point began coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating on the stock. TD Cowen lifted their price objective on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Raymond James Financial lifted their price objective on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Finally, Scotiabank restated a “sector perform” rating and set a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.80.

Phillips 66 Stock Performance

PSX stock opened at $131.35 on Thursday. The stock has a market capitalization of $53.08 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.60. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $126.75 and its 200 day simple moving average is $119.52.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share 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 analysts’ expectations 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 in the prior year, the firm earned $2.31 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued 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 dividend payout ratio is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the acquisition, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president directly owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. Company insiders own 0.22% of the company’s stock.

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.