Forum Financial Management LP Sells 153 Shares of Phillips 66 (NYSE:PSX)

Forum Financial Management LP lowered its position in Phillips 66 (NYSE:PSX) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,409 shares of the oil and gas company’s stock after selling 153 shares during the period. Forum Financial Management LP’s holdings in Phillips 66 were worth $974,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $26,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at $26,000. Finally, Values First Advisors Inc. bought a new position in Phillips 66 during the 3rd quarter worth about $30,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $121.03 on Tuesday. The company’s 50 day simple moving average is $130.98 and its 200 day simple moving average is $137.30. The stock has a market capitalization of $49.98 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm posted $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 7.77 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.80%. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Morgan Stanley lowered their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $150.38.

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.