Executive Wealth Management LLC Decreases Stake in Phillips 66 (NYSE:PSX)

Executive Wealth Management LLC lowered its position in Phillips 66 (NYSE:PSX) by 22.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,211 shares of the oil and gas company’s stock after selling 342 shares during the period. Executive Wealth Management LLC’s holdings in Phillips 66 were worth $113,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Merchants Corp grew its holdings in Phillips 66 by 13.5% during the 2nd quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock valued at $1,665,000 after buying an additional 2,117 shares in the last quarter. Opus Investment Management Inc. purchased a new position in Phillips 66 during the 1st quarter valued at about $446,000. Mitchell Capital Management Co. grew its holdings in Phillips 66 by 23.4% during the 2nd quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock valued at $1,678,000 after buying an additional 3,405 shares in the last quarter. Boston Partners grew its holdings in Phillips 66 by 6.8% during the 1st quarter. Boston Partners now owns 766,308 shares of the oil and gas company’s stock valued at $72,929,000 after buying an additional 48,968 shares in the last quarter. Finally, Copeland Capital Management LLC grew its holdings in Phillips 66 by 44.1% during the 2nd quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock valued at $4,227,000 after buying an additional 13,840 shares in the last quarter. 71.31% of the stock is owned by institutional investors.

Phillips 66 stock traded down $1.00 during trading hours on Thursday, reaching $96.54. The company had a trading volume of 924,653 shares, compared to its average volume of 2,414,667. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. The stock has a 50-day simple moving average of $99.13. The stock has a market cap of $44.10 billion, a price-to-earnings ratio of 8.24, a price-to-earnings-growth ratio of 1.94 and a beta of 1.10. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $121.54.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The business had revenue of $28.52 billion for the quarter, compared to analysts’ expectations of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the previous year, the firm earned $2.80 EPS. Analysts anticipate that Phillips 66 will post 7.79 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $3.60 annualized dividend and a dividend yield of 3.73%. Phillips 66’s dividend payout ratio (DPR) is presently 30.74%.

In other Phillips 66 news, Director John E. Lowe bought 2,000 shares of Phillips 66 stock in a transaction dated Tuesday, May 28th. The shares were purchased at an average cost of $82.91 per share, with a total value of $165,820.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.13% of the stock is currently owned by insiders.

A number of research analysts have weighed in on PSX shares. Morgan Stanley reduced their target price on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a research report on Friday, June 21st. Bank of America upgraded Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 price target for the company in a research report on Monday, April 29th. They noted that the move was a valuation call. Cowen lifted their price target on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Raymond James lifted their price target on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company. Phillips 66 has a consensus rating of “Buy” and a consensus price target of $117.64.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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