Phillips 66 $PSX Position Trimmed by Vinva Investment Management Ltd

Vinva Investment Management Ltd trimmed its stake in Phillips 66 (NYSE:PSX) by 29.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,256 shares of the oil and gas company’s stock after selling 5,093 shares during the quarter. Vinva Investment Management Ltd’s holdings in Phillips 66 were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. WealthTrust Axiom LLC boosted its stake in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares during the period. Wolff Wiese Magana LLC increased its stake in shares of 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 worth $26,000 after acquiring an additional 82 shares during the last quarter. Magnus Financial Group LLC raised its holdings in shares of Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after acquiring an additional 84 shares in the last quarter. Biltmore Wealth Management LLC boosted its position in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares during the last quarter. Finally, XML Financial LLC boosted its position in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.6%

NYSE:PSX opened at $137.15 on Friday. The company’s 50 day moving average is $134.67 and its 200-day moving average is $127.79. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25. The firm has a market cap of $55.26 billion, a price-to-earnings ratio of 37.47, a P/E/G ratio of 1.81 and a beta of 1.08.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This represents a 25.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 64,986 shares of company stock valued at $8,955,291. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PSX shares. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $150.00 price objective (up previously from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Morgan Stanley boosted their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Mizuho increased their price target on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a research note on Monday, September 15th. Finally, Barclays raised their price target on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $145.71.

About Phillips 66

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.