Teamwork Financial Advisors LLC Cuts Position in Phillips 66 $PSX

Teamwork Financial Advisors LLC trimmed its position in Phillips 66 (NYSE:PSX) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,219 shares of the oil and gas company’s stock after selling 238 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Phillips 66 were worth $265,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSX. Brighton Jones LLC raised its holdings in shares of Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. Quantinno Capital Management LP grew its stake in shares of Phillips 66 by 48.2% in the fourth quarter. Quantinno Capital Management LP now owns 38,665 shares of the oil and gas company’s stock valued at $4,405,000 after buying an additional 12,567 shares in the last quarter. ProShare Advisors LLC grew its stake in shares of Phillips 66 by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 84,732 shares of the oil and gas company’s stock valued at $9,654,000 after buying an additional 2,664 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $342,000. Finally, Royal Bank of Canada grew its stake in shares of Phillips 66 by 42.5% in the fourth quarter. Royal Bank of Canada now owns 1,497,300 shares of the oil and gas company’s stock valued at $170,587,000 after buying an additional 446,444 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PSX shares. Morgan Stanley increased their target price on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 16th. TD Cowen increased their target price on Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a research note on Monday, July 28th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI started coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an “outperform” rating and a $130.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $136.40.

Insider Buying and Selling

In related news, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction that occurred on Thursday, July 31st. The shares were acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael A. Heim purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the acquisition, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 9,850 shares of company stock worth $1,188,910 and have sold 18,586 shares worth $2,389,145. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $130.77 on Friday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.60. The business has a 50 day moving average price of $126.95 and a two-hundred day moving average price of $119.55. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The firm has a market cap of $52.85 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.06 and a beta of 1.15.

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

Phillips 66 Dividend Announcement

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

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.