Phillips 66 $PSX Shares Sold by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors trimmed its holdings in Phillips 66 (NYSE:PSX) by 9.0% during the second quarter, Holdings Channel.com reports. The fund owned 4,218 shares of the oil and gas company’s stock after selling 417 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Phillips 66 were worth $503,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC grew its stake in Phillips 66 by 62.1% in 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. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Pinpoint Asset Management Ltd acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. Webster Bank N. A. grew its stake in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. Finally, Nova Wealth Management Inc. acquired a new stake in Phillips 66 in the 1st quarter valued at about $37,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSX. Argus raised shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Zacks Research raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 26th. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Finally, Jefferies Financial Group raised their price target on shares of Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research note on Friday, October 10th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $142.94.

Insider Activity

In related news, Director Gregory Hayes acquired 8,350 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.6%

Shares of PSX stock opened at $136.23 on Monday. The firm has a market cap of $54.89 billion, a P/E ratio of 37.22, a PEG ratio of 1.81 and a beta of 1.11. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $142.35. 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 firm’s 50-day simple moving average is $132.67 and its 200-day simple moving average is $123.64.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the prior year, the firm posted $2.04 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued 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 dividend payout ratio is presently 131.15%.

Phillips 66 Company 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.