Phillips 66 $PSX Shares Acquired by Praxis Investment Management Inc.

Praxis Investment Management Inc. increased its stake in shares of Phillips 66 (NYSE:PSX) by 23.0% in the 3rd quarter, Holdings Channel reports. The firm owned 31,328 shares of the oil and gas company’s stock after purchasing an additional 5,868 shares during the period. Praxis Investment Management Inc.’s holdings in Phillips 66 were worth $4,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. WealthTrust Axiom LLC raised its holdings in shares of Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after acquiring an additional 81 shares during the last quarter. Wolff Wiese Magana LLC lifted its holdings in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC boosted its stake in Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares during the last quarter. Biltmore Wealth Management LLC grew its holdings in shares of 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 worth $431,000 after buying an additional 85 shares in the last quarter. Finally, XML Financial LLC raised its position in shares of Phillips 66 by 0.5% in 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 buying an additional 85 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $141.41 on Monday. The firm has a market cap of $56.98 billion, a PE ratio of 38.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.92. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $144.96. The business’s fifty day simple moving average is $135.66 and its 200-day simple moving average is $129.47.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.4%. The ex-dividend date was Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Morgan Stanley boosted their price target 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. Wells Fargo & Company raised their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Bank of America lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $148.35.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. The trade was a 30.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,093 shares of company stock valued at $11,933,256 over the last quarter. 0.22% of the stock is owned by company insiders.

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.