Estabrook Capital Management Decreases Stake in Phillips 66 $PSX

Estabrook Capital Management cut its stake in Phillips 66 (NYSE:PSX) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,507 shares of the oil and gas company’s stock after selling 602 shares during the period. Estabrook Capital Management’s holdings in Phillips 66 were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Stablepoint Partners LLC grew its holdings in shares of Phillips 66 by 0.7% during the second quarter. Stablepoint Partners LLC now owns 47,648 shares of the oil and gas company’s stock valued at $5,684,000 after buying an additional 320 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its stake in Phillips 66 by 7.2% during the 2nd quarter. Legacy Capital Wealth Partners LLC now owns 3,434 shares of the oil and gas company’s stock valued at $410,000 after purchasing an additional 232 shares during the last quarter. Kuhn & Co Investment Counsel increased its holdings in shares of Phillips 66 by 23.6% in the second quarter. Kuhn & Co Investment Counsel now owns 4,903 shares of the oil and gas company’s stock valued at $585,000 after purchasing an additional 935 shares during the period. Mackenzie Financial Corp raised its stake in shares of Phillips 66 by 13.1% in the second quarter. Mackenzie Financial Corp now owns 49,615 shares of the oil and gas company’s stock worth $5,919,000 after purchasing an additional 5,731 shares during the last quarter. Finally, F m Investments LLC lifted its holdings in shares of Phillips 66 by 5.7% during the second quarter. F m Investments LLC now owns 18,066 shares of the oil and gas company’s stock worth $2,156,000 after purchasing an additional 974 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $137.15 on Friday. The stock has a market capitalization of $55.26 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.81 and a beta of 1.08. The stock has a 50-day moving average of $134.67 and a 200 day moving average of $127.81. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $143.25.

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

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 64,986 shares of company stock valued at $8,955,291. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Jefferies Financial Group upped their target price on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Bank of America lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. BMO Capital Markets raised their target price on shares of Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. Finally, UBS Group restated a “buy” rating and set a $160.00 target price on shares of Phillips 66 in a research report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $146.82.

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.