Phillips 66 $PSX Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale decreased its holdings in Phillips 66 (NYSE:PSX) by 2.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 199,461 shares of the oil and gas company’s stock after selling 4,241 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Phillips 66 were worth $23,766,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Elliott Investment Management L.P. raised its holdings in Phillips 66 by 1,929.0% in the 1st 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 acquiring an additional 14,950,000 shares during the last quarter. Chronos Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $281,000. Alta Advisers Ltd acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $253,000. Sustainable Insight Capital Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $1,457,000. Finally, Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $292,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $131.23 on Thursday. 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 capitalization of $53.03 billion, a P/E ratio of 31.55, a PEG ratio of 1.79 and a beta of 1.11. The company has a 50 day moving average price of $131.02 and a 200 day moving average price of $121.23. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 1.27% and a return on equity of 4.87%. During the same quarter last year, the company posted $2.31 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the firm’s stock in a transaction on Thursday, July 31st. The stock was bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 9,850 shares of company stock worth $1,188,910. 0.22% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on PSX shares. Jefferies Financial Group raised their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. TD Cowen raised their price target on shares of Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Mizuho raised their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

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.