Savvy Advisors Inc. Sells 998 Shares of Phillips 66 (NYSE:PSX)

Savvy Advisors Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,014 shares of the oil and gas company’s stock after selling 998 shares during the period. Savvy Advisors Inc.’s holdings in Phillips 66 were worth $396,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PSX. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of Phillips 66 by 28.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock worth $282,000 after buying an additional 477 shares during the period. GSA Capital Partners LLP acquired a new stake in Phillips 66 during the third quarter worth approximately $817,000. WCM Investment Management LLC boosted its holdings in shares of Phillips 66 by 310.4% during the third quarter. WCM Investment Management LLC now owns 9,890 shares of the oil and gas company’s stock worth $1,296,000 after acquiring an additional 7,480 shares during the period. Nations Financial Group Inc. IA ADV grew its position in shares of Phillips 66 by 5.6% in the third quarter. Nations Financial Group Inc. IA ADV now owns 44,312 shares of the oil and gas company’s stock valued at $5,825,000 after purchasing an additional 2,361 shares during the last quarter. Finally, Jupiter Wealth Management LLC increased its stake in shares of Phillips 66 by 9.3% during the third quarter. Jupiter Wealth Management LLC now owns 8,154 shares of the oil and gas company’s stock worth $1,072,000 after purchasing an additional 695 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $127.68 on Wednesday. The business has a 50 day moving average of $129.87 and a 200-day moving average of $136.21. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1 year low of $111.90 and a 1 year high of $174.08. The company has a market capitalization of $52.73 billion, a P/E ratio of 16.39, a P/E/G ratio of 4.19 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared 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 is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief financial officer now directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSX. Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 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.