Richwood Investment Advisors LLC Trims Stake in Phillips 66 $PSX

Richwood Investment Advisors LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 2.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 4,310 shares of the oil and gas company’s stock after selling 115 shares during the quarter. Richwood Investment Advisors LLC’s holdings in Phillips 66 were worth $514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC boosted its position in shares of Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the last quarter. von Borstel & Associates Inc. purchased a new position in Phillips 66 in the 1st quarter worth approximately $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 in the first quarter valued at $29,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 during the first quarter worth about $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In related news, Director Gregory Hayes bought 8,350 shares of the business’s stock in a transaction on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the purchase, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the business’s stock in a transaction on Thursday, July 31st. The shares were bought at an average price of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 9,850 shares of company stock valued at $1,188,910. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.0%

Shares of Phillips 66 stock opened at $132.97 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company’s fifty day simple moving average is $128.99 and its 200-day simple moving average is $120.43. The stock has a market capitalization of $53.74 billion, a PE ratio of 31.96, a P/E/G ratio of 1.91 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the company posted $2.31 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66’s payout ratio is currently 115.38%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research report on Thursday, July 31st. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a “buy” rating for the company. Barclays increased their target price on Phillips 66 from $115.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 9th. Finally, TD Cowen upped their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.19.

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.