Phillips 66 $PSX Shares Sold by Rosenberg Matthew Hamilton

Rosenberg Matthew Hamilton cut its position in Phillips 66 (NYSE:PSX) by 7.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,047 shares of the oil and gas company’s stock after selling 428 shares during the period. Rosenberg Matthew Hamilton’s holdings in Phillips 66 were worth $602,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elliott Investment Management L.P. boosted its stake in shares of 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 worth $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 11.3% in the first 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 buying an additional 682,459 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after buying an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 3.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock worth $383,197,000 after buying an additional 100,321 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE:PSX opened at $130.92 on Wednesday. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. 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 stock has a market cap of $52.91 billion, a PE ratio of 31.47, a P/E/G ratio of 1.90 and a beta of 1.11. The stock has a 50 day moving average price of $129.85 and a 200 day moving average price of $120.68.

Phillips 66 (NYSE:PSX) last posted 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 during 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 quarter last year, the firm earned $2.31 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s payout ratio is presently 115.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. Scotiabank restated a “sector perform” rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Piper Sandler raised their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Barclays raised their price objective on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $140.75.

Insider Transactions at Phillips 66

In other news, Director Gregory Hayes acquired 8,350 shares of the company’s stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the purchase, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 9,850 shares of company stock valued at $1,188,910. Corporate 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.