Moors & Cabot Inc. Sells 928 Shares of Phillips 66 $PSX

Moors & Cabot Inc. decreased its position in Phillips 66 (NYSE:PSX) by 8.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,342 shares of the oil and gas company’s stock after selling 928 shares during the period. Moors & Cabot Inc.’s holdings in Phillips 66 were worth $1,234,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Elliott Investment Management L.P. grew its stake in shares of 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 purchasing an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC boosted its stake in Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after buying an additional 1,431,450 shares in the last quarter. Nuveen LLC bought a new stake in Phillips 66 in the first quarter valued at $156,482,000. Price T Rowe Associates Inc. MD boosted its stake 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 valued at $828,442,000 after purchasing an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of Phillips 66 by 15.9% during the 1st 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 in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the 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 approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 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 owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSX shares. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $150.00 target price (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. Argus upgraded Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Mizuho lifted their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Finally, Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.56.

Phillips 66 Stock Performance

PSX stock opened at $138.25 on Friday. 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 firm has a market cap of $55.70 billion, a PE ratio of 37.77, a P/E/G ratio of 1.81 and a beta of 1.08. The business has a 50 day moving average of $133.12 and a 200-day moving average of $124.36. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share 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 for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company 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 dividend yield of 3.5%. Phillips 66’s payout ratio is presently 131.15%.

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.