Phillips 66 $PSX Stake Cut by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 76.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the oil and gas company’s stock after selling 9,751 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Phillips 66 were worth $547,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Clifford Group LLC grew its position in Phillips 66 by 2.0% during the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in Phillips 66 by 0.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after buying an additional 65 shares during the period. CYBER HORNET ETFs LLC lifted its position in Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after buying an additional 66 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock worth $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. boosted its stake in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 41,021 shares of company stock worth $7,195,257. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $206.94 on Friday. The company’s fifty day moving average is $182.54 and its 200-day moving average is $168.28. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08. The firm has a market cap of $82.97 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter last year, the firm earned ($0.90) EPS. Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities analysts expect that Phillips 66 will post 21.96 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Piper Sandler restated a “neutral” rating and issued a $208.00 target price on shares of Phillips 66 in a research note on Thursday. Zacks Research lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Finally, UBS Group reaffirmed a “buy” rating and set a $212.00 price target on shares of Phillips 66 in a research note on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.44.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.