Phillips 66 $PSX Stock Holdings Trimmed by Sei Investments Co.

Sei Investments Co. lowered its position in shares of Phillips 66 (NYSE:PSX) by 19.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 304,954 shares of the oil and gas company’s stock after selling 71,417 shares during the quarter. Sei Investments Co.’s holdings in Phillips 66 were worth $55,556,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $640,206,000. M&T Bank Corp raised its position in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC lifted its stake in Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in Phillips 66 during the second quarter worth $107,967,000. Finally, NewEdge Advisors LLC boosted its holdings in Phillips 66 by 732.0% in the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after purchasing an additional 877,131 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of the business’s stock in a transaction on Wednesday, May 6th. The shares were acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 41,021 shares of company stock worth $7,195,257. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Stock Down 0.0%

PSX stock opened at $206.94 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $216.08. The firm’s 50-day simple moving average is $182.54 and its 200 day simple moving average is $168.28. The stock has a market cap of $82.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.90) EPS. As a group, sell-side analysts predict that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Citigroup lifted their price target on shares of Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a research report on Tuesday, March 31st. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, Scotiabank raised their target price on shares of Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $200.44.

Phillips 66 Profile

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.