Sei Investments Co. Trims Holdings in Phillips 66 $PSX

Sei Investments Co. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 19.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 304,954 shares of the oil and gas company’s stock after selling 71,417 shares during the period. Sei Investments Co. owned approximately 0.08% of Phillips 66 worth $55,556,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. MUFG Securities EMEA plc boosted its holdings in shares of Phillips 66 by 113.5% in the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after acquiring an additional 8,783 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Phillips 66 by 17.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock worth $177,018,000 after purchasing an additional 199,646 shares in the last quarter. Horizon Investments LLC lifted its position in Phillips 66 by 478.4% in the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares during the period. Truist Financial Corp lifted its position in Phillips 66 by 1.6% in the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after purchasing an additional 10,585 shares during the period. Finally, LBP AM SA boosted its holdings in Phillips 66 by 237.8% in the 4th quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock valued at $7,275,000 after purchasing an additional 39,690 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 41,021 shares of company stock valued at $7,195,257. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $206.94 on Friday. The firm has a market capitalization of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. Phillips 66 has a one year low of $118.07 and a one year high of $216.08. The stock’s 50 day moving average price is $182.54 and its 200 day moving average price is $168.28. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) 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 company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the firm posted ($0.90) earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s payout ratio is currently 50.05%.

Analysts Set New Price Targets

Several research firms have issued reports on PSX. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Raymond James Financial lifted their price target on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Barclays upped their price objective on Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Jefferies Financial Group increased their price objective on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Finally, Argus boosted their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $200.44.

Phillips 66 Company Profile

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.