Capital Market Strategies LLC Has $279,000 Stock Holdings in Phillips 66 $PSX

Capital Market Strategies LLC lessened its position in Phillips 66 (NYSE:PSX) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,339 shares of the oil and gas company’s stock after selling 200 shares during the period. Capital Market Strategies LLC’s holdings in Phillips 66 were worth $279,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Pacific Center for Financial Services acquired a new position in Phillips 66 during the 4th quarter worth about $27,000. von Borstel & Associates Inc. bought a new stake in Phillips 66 during the 1st quarter worth about $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 during the 1st quarter worth about $28,000. Wood Tarver Financial Group LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In other news, Director Sigmund L. Cornelius purchased 500 shares of Phillips 66 stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares in the company, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 9,850 shares of company stock valued at $1,188,910 and have sold 18,586 shares valued at $2,389,145. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Compass Point began coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating for the company. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Evercore ISI assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 price objective for the company. Finally, UBS Group increased their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.40.

Phillips 66 Stock Down 1.3%

Shares of NYSE PSX opened at $130.77 on Friday. 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 has a 52 week low of $91.01 and a 52 week high of $140.60. The stock has a market capitalization of $52.85 billion, a P/E ratio of 31.44, a PEG ratio of 2.06 and a beta of 1.15. The stock’s fifty day moving average is $126.95 and its 200 day moving average is $119.59.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The company had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same quarter last year, the business earned $2.31 earnings per share. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.7%. Phillips 66’s payout ratio is presently 115.38%.

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.