Mcdonald Partners LLC Trims Holdings in Phillips 66 $PSX

Mcdonald Partners LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 31.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,943 shares of the oil and gas company’s stock after selling 10,130 shares during the quarter. Phillips 66 makes up about 0.9% of Mcdonald Partners LLC’s investment portfolio, making the stock its 29th largest holding. Mcdonald Partners LLC’s holdings in Phillips 66 were worth $2,985,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cresset Asset Management LLC lifted its stake in Phillips 66 by 6.7% in the third quarter. Cresset Asset Management LLC now owns 21,530 shares of the oil and gas company’s stock worth $2,929,000 after acquiring an additional 1,348 shares during the period. Focus Partners Advisor Solutions LLC lifted its position in shares of Phillips 66 by 164.6% in the 3rd quarter. Focus Partners Advisor Solutions LLC now owns 31,009 shares of the oil and gas company’s stock worth $4,282,000 after purchasing an additional 19,288 shares during the period. Riverview Capital Advisers LLC boosted its stake in shares of Phillips 66 by 1.1% during the 3rd quarter. Riverview Capital Advisers LLC now owns 21,473 shares of the oil and gas company’s stock valued at $2,921,000 after purchasing an additional 225 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in shares of Phillips 66 by 50.4% during the 3rd quarter. Kingsview Wealth Management LLC now owns 64,042 shares of the oil and gas company’s stock valued at $8,711,000 after purchasing an additional 21,458 shares in the last quarter. Finally, Paragon Capital Management LLC increased its position in shares of Phillips 66 by 1.3% during the third quarter. Paragon Capital Management LLC now owns 13,292 shares of the oil and gas company’s stock valued at $1,808,000 after buying an additional 168 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PSX. Mizuho raised their price objective on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Argus raised their target price on Phillips 66 from $152.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, February 10th. Citigroup lifted their price target on Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. TD Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Friday, February 6th. Finally, Wall Street Zen raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday. Eleven analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $160.11.

Phillips 66 Stock Down 0.4%

Shares of NYSE:PSX opened at $159.50 on Wednesday. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $145.28 and a two-hundred day simple moving average of $137.89. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79. The stock has a market capitalization of $63.92 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 0.56 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same period last year, the company earned ($0.15) earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.2%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s dividend payout ratio is presently 46.95%.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the transaction, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the transaction, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,288 shares of company stock worth $2,496,230. Insiders own 0.22% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.