Hilltop Holdings Inc. Sells 12,469 Shares of Phillips 66 $PSX

Hilltop Holdings Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 64.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 6,849 shares of the oil and gas company’s stock after selling 12,469 shares during the quarter. Hilltop Holdings Inc.’s holdings in Phillips 66 were worth $1,248,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Accordant Advisory Group Inc raised its stake in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. NFSG Corp grew its stake in shares of Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. SWAN Capital LLC grew its stake in shares of Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 190 shares during the last quarter. Finally, Sfam LLC purchased a new position in Phillips 66 during the 4th quarter valued at about $34,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research analyst reports. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. upped their target price on Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $208.00 price target on shares of Phillips 66 in a research note on Thursday. Finally, BMO Capital Markets lifted their price target on shares of Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.44.

Phillips 66 Stock Performance

Shares of PSX opened at $206.94 on Friday. The company has a 50-day simple moving average of $182.54 and a two-hundred day simple moving average of $168.28. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. 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.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts anticipate that Phillips 66 will post 22.43 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. 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%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. This represents a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction on Wednesday, May 6th. The shares were purchased 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. This trade represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is owned by insiders.

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.