Clarity Financial LLC Has $210,000 Stock Position in Phillips 66 (NYSE:PSX)

Clarity Financial LLC lessened its stake in Phillips 66 (NYSE:PSX) by 7.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,596 shares of the oil and gas company’s stock after selling 127 shares during the quarter. Clarity Financial LLC’s holdings in Phillips 66 were worth $210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Norden Group LLC lifted its position in shares of Phillips 66 by 73.2% in the first quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock valued at $611,000 after buying an additional 1,582 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Phillips 66 by 37.6% during the 1st quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company’s stock worth $1,264,000 after buying an additional 2,115 shares during the last quarter. Whittier Trust Co. grew its stake in Phillips 66 by 5.9% in the 1st quarter. Whittier Trust Co. now owns 3,210 shares of the oil and gas company’s stock valued at $524,000 after buying an additional 180 shares during the last quarter. Commerce Bank raised its holdings in Phillips 66 by 3.7% in the 1st quarter. Commerce Bank now owns 55,410 shares of the oil and gas company’s stock valued at $9,051,000 after acquiring an additional 1,979 shares during the period. Finally, Rehmann Capital Advisory Group acquired a new stake in Phillips 66 during the first quarter worth approximately $243,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.7 %

PSX opened at $121.82 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $130.73 and its two-hundred day moving average price is $137.07. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The stock has a market cap of $50.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping 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 analyst estimates of $36.31 billion. During the same quarter in the prior year, the firm posted $4.63 EPS. Phillips 66’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Barclays dropped their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Finally, TD Cowen decreased their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

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.