Linscomb Wealth Inc. Sells 88 Shares of Phillips 66 $PSX

Linscomb Wealth Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.7% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,090 shares of the oil and gas company’s stock after selling 88 shares during the quarter. Linscomb Wealth Inc.’s holdings in Phillips 66 were worth $607,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Elliott Investment Management L.P. grew its holdings 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 valued at $1,941,723,000 after acquiring an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new position in shares of Phillips 66 in the second quarter valued at approximately $281,000. Sustainable Insight Capital Management LLC bought a new position in shares of Phillips 66 in the first quarter valued at approximately $1,457,000. Evergreen Wealth Solutions LLC bought a new position in shares of Phillips 66 in the first quarter valued at approximately $292,000. Finally, Concurrent Investment Advisors LLC grew its holdings in shares of Phillips 66 by 45.3% in the first quarter. Concurrent Investment Advisors LLC now owns 30,055 shares of the oil and gas company’s stock valued at $3,711,000 after acquiring an additional 9,376 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PSX shares. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Mizuho increased their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Barclays increased their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 7th. Finally, Morgan Stanley increased their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $142.94.

Insider Activity

In related news, Director Gregory Hayes bought 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, 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 ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. 0.22% of the stock is owned by company insiders.

Phillips 66 Stock Down 0.6%

Shares of NYSE PSX opened at $136.23 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.35. The business has a 50-day simple moving average of $132.67 and a two-hundred day simple moving average of $123.27. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The company has a market cap of $55.05 billion, a P/E ratio of 37.22, a P/E/G ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter last year, the company earned $2.04 EPS. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

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.