Phillips 66 $PSX Position Lessened by Annex Advisory Services LLC

Annex Advisory Services LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 37.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,027 shares of the oil and gas company’s stock after selling 3,649 shares during the period. Annex Advisory Services LLC’s holdings in Phillips 66 were worth $719,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Forum Financial Management LP increased its position in Phillips 66 by 1.0% during the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after buying an additional 77 shares during the last quarter. WealthTrust Axiom LLC increased its position in 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 worth $894,000 after buying an additional 81 shares during the last quarter. Biltmore Wealth Management LLC increased 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 worth $431,000 after buying an additional 85 shares during the last quarter. CWC Advisors LLC. increased its position in Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company’s stock worth $1,110,000 after buying an additional 92 shares during the last quarter. Finally, Legacy Private Trust Co. increased its position in Phillips 66 by 3.3% during the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company’s stock worth $359,000 after buying an additional 95 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 1.5%

Shares of PSX opened at $129.39 on Monday. The company has a market capitalization of $52.29 billion, a P/E ratio of 31.10, a PEG ratio of 1.86 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a one year low of $91.01 and a one year high of $140.60. The business’s 50 day simple moving average is $127.04 and its 200-day simple moving average is $119.76.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the previous year, the company posted $2.31 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s payout ratio is 115.38%.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the transaction, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the transaction, the executive vice president owned 38,980 shares of the company’s stock, valued at $5,262,300. This trade represents a 10.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of recent analyst reports. Raymond James Financial lifted their price objective on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. Wells Fargo & Company dropped their price objective on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 11th. Compass Point began coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating for the company. UBS Group upped their price target on Phillips 66 from $141.00 to $143.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $138.94.

Phillips 66 Company 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.