Lbp Am Sa Sells 66,285 Shares of Phillips 66 $PSX

Lbp Am Sa lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 79.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 16,971 shares of the oil and gas company’s stock after selling 66,285 shares during the period. Lbp Am Sa’s holdings in Phillips 66 were worth $2,025,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wolff Wiese Magana LLC boosted its holdings in Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. bought a new position in Phillips 66 in the first quarter valued at about $27,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the first quarter valued at about $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at about $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Phillips 66 in the first quarter valued at about $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.3%

NYSE PSX opened at $135.02 on Friday. The firm has a market cap of $54.57 billion, a P/E ratio of 32.46, a P/E/G ratio of 1.95 and a beta of 1.11. 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 stock’s 50-day moving average is $128.72 and its 200-day moving average is $120.46. Phillips 66 has a one year low of $91.01 and a one year high of $142.35.

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, topping analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for 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 quarter last year, the firm posted $2.31 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm 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. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. Scotiabank reissued a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Bank of America lowered Phillips 66 from a “buy” rating to a “neutral” rating and increased their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Raymond James Financial increased their target price on Phillips 66 from $142.00 to $145.00 and gave the company an “outperform” rating in a research note on Tuesday, September 9th. Finally, UBS Group increased their target price on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.44.

Insiders Place Their Bets

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction dated 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 in the company, valued at $3,527,817.70. This trade represents a 39.62% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael A. Heim acquired 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were purchased at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company’s stock, valued at $1,517,056.71. This represents a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 9,850 shares of company stock worth $1,188,910 and sold 13,179 shares worth $1,779,165. 0.22% of the stock is owned by company insiders.

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.