Phillips 66 (NYSE:PSX) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,987 shares of the oil and gas company’s stock after selling 3,727 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Phillips 66 were worth $9,136,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PSX. Larson Financial Group LLC raised its stake in shares of Phillips 66 by 25.6% in the 1st quarter. Larson Financial Group LLC now owns 6,446 shares of the oil and gas company’s stock valued at $796,000 after buying an additional 1,313 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Phillips 66 by 9.1% during the 1st quarter. Wealthfront Advisers LLC now owns 49,492 shares of the oil and gas company’s stock worth $6,111,000 after buying an additional 4,123 shares during the period. Pinkerton Retirement Specialists LLC grew its position in shares of Phillips 66 by 5.7% during the 1st quarter. Pinkerton Retirement Specialists LLC now owns 36,943 shares of the oil and gas company’s stock worth $4,562,000 after buying an additional 1,987 shares during the period. West Family Investments Inc. bought a new position in Phillips 66 during the 1st quarter worth approximately $202,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Phillips 66 by 6.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 5,728 shares of the oil and gas company’s stock worth $707,000 after acquiring an additional 340 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Evercore ISI began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set an “outperform” rating and a $130.00 target price on the stock. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. Morgan Stanley reduced their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Piper Sandler set a $148.00 price target on shares of Phillips 66 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Finally, Raymond James Financial set a $142.00 price objective on Phillips 66 and gave the company an “outperform” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.21.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the company’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director owned 4,091 shares of the company’s stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. This represents a 9.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 1.3%

PSX opened at $129.99 on Tuesday. The company has a market capitalization of $52.96 billion, a PE ratio of 29.39, a PEG ratio of 2.11 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The firm’s 50 day simple moving average is $119.91 and its two-hundred day simple moving average is $117.93. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the prior year, the firm posted $1.90 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.69%. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

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.