Phillips 66 $PSX Position Reduced by ORG Partners LLC

ORG Partners LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 8.8% during the second quarter, HoldingsChannel reports. The fund owned 958 shares of the oil and gas company’s stock after selling 92 shares during the quarter. ORG Partners LLC’s holdings in Phillips 66 were worth $118,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Elliott Investment Management L.P. increased its holdings in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Nuveen LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $156,482,000. GAMMA Investing LLC grew its position in shares of Phillips 66 by 14,119.5% in the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock worth $146,893,000 after acquiring an additional 1,181,240 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $139.45 on Monday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35. 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 has a market cap of $56.35 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.98 and a beta of 1.15. The business’s 50 day moving average is $127.94 and its 200-day moving average is $120.14.

Phillips 66 (NYSE:PSX) last posted its 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. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. During the same period last year, the firm earned $2.31 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.4%. Phillips 66’s dividend payout ratio is presently 115.38%.

Insider Activity at Phillips 66

In related news, Director Michael A. Heim acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares of the company’s stock, valued at $1,517,056.71. The trade was a 9.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $135.00, for a total value of $593,055.00. Following the completion of the sale, the executive vice president owned 38,980 shares of the company’s stock, valued at approximately $5,262,300. This trade represents a 10.13% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 9,850 shares of company stock valued at $1,188,910 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several research analyst reports. UBS Group increased their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $130.00 to $133.00 and gave the company a “hold” rating in a research report on Monday, September 15th. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Cantor Fitzgerald started coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating for the company. Finally, Morgan Stanley lifted their target price on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.38.

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.