Burney Co. Has $1.75 Million Stock Position in Phillips 66 $PSX

Burney Co. reduced its position in Phillips 66 (NYSE:PSX) by 15.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 14,703 shares of the oil and gas company’s stock after selling 2,661 shares during the period. Burney Co.’s holdings in Phillips 66 were worth $1,754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new stake in shares of Phillips 66 in the second quarter valued at about $281,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $1,457,000. Evergreen Wealth Solutions LLC bought a new stake in Phillips 66 during the first quarter worth about $292,000. Finally, Jump Financial LLC raised its holdings in Phillips 66 by 307.1% during the first quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after acquiring an additional 8,506 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on 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 $4,842,180. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $135.64 on Wednesday. The firm has a market cap of $54.65 billion, a P/E ratio of 37.06, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. The business’s 50 day moving average is $132.95 and its 200-day moving average is $124.18.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The company had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same quarter last year, the company earned $2.04 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the stock from $126.00 to $130.00 in a report on Wednesday, July 16th. Morgan Stanley upped 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. Jefferies Financial Group upped their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a report on Friday, October 10th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $143.56.

About Phillips 66

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.