Everhart Financial Group Inc. Reduces Holdings in Phillips 66 (NYSE:PSX)

Everhart Financial Group Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 2.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,184 shares of the oil and gas company’s stock after selling 86 shares during the period. Everhart Financial Group Inc.’s holdings in Phillips 66 were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $559,435,000. Boston Partners boosted its position in shares of Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after buying an additional 3,494,878 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after buying an additional 2,209,043 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after buying an additional 1,842,226 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PSX shares. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Wells Fargo & Company reduced their price target on Phillips 66 from $180.00 to $176.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.38.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $2.21 during trading on Friday, reaching $135.37. The company had a trading volume of 1,911,904 shares, compared to its average volume of 2,640,957. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock’s fifty day moving average price is $137.92 and its 200 day moving average price is $145.57. The firm has a market capitalization of $57.39 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 2.43 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the company posted $3.87 EPS. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Phillips 66 will post 9.53 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.40%. Phillips 66’s dividend payout ratio is currently 35.38%.

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.