Metis Global Partners LLC Sells 819 Shares of Phillips 66 $PSX

Metis Global Partners LLC reduced its stake in Phillips 66 (NYSE:PSX) by 2.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,336 shares of the oil and gas company’s stock after selling 819 shares during the quarter. Metis Global Partners LLC’s holdings in Phillips 66 were worth $3,261,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. Marco Investment Management LLC lifted its position in Phillips 66 by 0.7% during the second quarter. Marco Investment Management LLC now owns 77,722 shares of the oil and gas company’s stock worth $9,272,000 after acquiring an additional 575 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Phillips 66 by 2.7% during the second quarter. Wedbush Securities Inc. now owns 15,849 shares of the oil and gas company’s stock worth $1,891,000 after buying an additional 410 shares in the last quarter. Nvwm LLC grew its holdings in shares of Phillips 66 by 2.3% during the second quarter. Nvwm LLC now owns 4,549 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 104 shares during the last quarter. Atlas Legacy Advisors LLC increased its stake in shares of Phillips 66 by 71.9% in the second quarter. Atlas Legacy Advisors LLC now owns 4,654 shares of the oil and gas company’s stock valued at $555,000 after buying an additional 1,947 shares during the period. Finally, Savant Capital LLC boosted its stake in shares of Phillips 66 by 69.7% in the 2nd quarter. Savant Capital LLC now owns 34,696 shares of the oil and gas company’s stock valued at $4,139,000 after purchasing an additional 14,251 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. TD Cowen raised their price target on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Evercore ISI increased their price objective on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group upped their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday, October 10th. One 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, Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $137.80 on Friday. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The stock has a 50 day moving average price of $133.20 and a 200-day moving average price of $124.81. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 37.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (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 in the prior year, the company posted $2.04 EPS. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is 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.