Phillips 66 $PSX Shares Sold by Crescent Sterling Ltd.

Crescent Sterling Ltd. decreased its position in shares of Phillips 66 (NYSE:PSX) by 12.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,941 shares of the oil and gas company’s stock after selling 1,806 shares during the quarter. Phillips 66 accounts for approximately 1.7% of Crescent Sterling Ltd.’s investment portfolio, making the stock its 18th largest holding. Crescent Sterling Ltd.’s holdings in Phillips 66 were worth $1,544,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Elliott Investment Management L.P. lifted its holdings in shares of Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC lifted its holdings in Phillips 66 by 9,530.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $156,482,000. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the period. Finally, Invesco Ltd. lifted its holdings in Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of analyst reports. Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho boosted their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Evercore ISI boosted their price target on Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, September 19th. Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Thursday. Finally, Barclays boosted their price target on Phillips 66 from $127.00 to $132.00 and gave the company an “equal weight” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $142.94.

Phillips 66 Stock Down 0.6%

Phillips 66 stock opened at $136.23 on Friday. The stock has a market capitalization of $55.05 billion, a PE ratio of 37.22, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The business has a 50 day simple moving average of $132.67 and a 200-day simple moving average of $123.27. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the previous year, the business earned $2.04 earnings per share. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company 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 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is presently 115.38%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gregory Hayes bought 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is currently owned by insiders.

Phillips 66 Profile

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.