Phillips 66 (NYSE:PSX) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,887 shares of the oil and gas company’s stock after selling 318 shares during the quarter. Fernwood Investment Management LLC’s holdings in Phillips 66 were worth $2,220,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the period. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after buying an additional 395,617 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Finally, Mizuho decreased their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $151.42.

Phillips 66 Trading Down 1.5 %

PSX traded down $1.81 during trading on Friday, hitting $120.01. The company’s stock had a trading volume of 2,064,468 shares, compared to its average volume of 2,135,708. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The stock has a market cap of $49.56 billion, a PE ratio of 15.41, a PEG ratio of 3.92 and a beta of 1.33. The firm’s 50 day moving average price is $131.27 and its 200-day moving average price is $137.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the firm posted $4.63 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. On average, analysts expect that Phillips 66 will post 7.77 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.83%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.