Commonwealth Equity Services LLC Sells 1,750 Shares of Phillips 66 (NYSE:PSX)

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Commonwealth Equity Services LLC reduced its stake in Phillips 66 (NYSE:PSX) by 0.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,708 shares of the oil and gas company’s stock after selling 1,750 shares during the period. Commonwealth Equity Services LLC’s holdings in Phillips 66 were worth $19,709,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Harvest Group Wealth Management LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $31,000. TCG Advisors LP acquired a new position in Phillips 66 during the first quarter valued at approximately $38,000. Burt Wealth Advisors raised its position in Phillips 66 by 285.7% during the first quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 300 shares in the last quarter. Glassman Wealth Services raised its position in Phillips 66 by 32.6% during the first quarter. Glassman Wealth Services now owns 472 shares of the oil and gas company’s stock valued at $45,000 after purchasing an additional 116 shares in the last quarter. Finally, Trust Department MB Financial Bank N A raised its position in Phillips 66 by 101.7% during the first quarter. Trust Department MB Financial Bank N A now owns 488 shares of the oil and gas company’s stock valued at $47,000 after purchasing an additional 246 shares in the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.

Shares of Phillips 66 stock traded up $0.03 during trading on Tuesday, hitting $102.58. The company’s stock had a trading volume of 83,513 shares, compared to its average volume of 2,644,766. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.84 and a current ratio of 1.31. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97. The stock has a market capitalization of $46.47 billion, a PE ratio of 8.76, a price-to-earnings-growth ratio of 2.12 and a beta of 1.08. The firm’s 50-day moving average is $92.74.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The company had revenue of $23.66 billion for the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter in the previous year, the firm posted $1.04 earnings per share. Analysts predict that Phillips 66 will post 7.4 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $0.90 dividend. The ex-dividend date is Monday, August 19th. This represents a $3.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio is 30.74%.

In other Phillips 66 news, Director John E. Lowe acquired 2,000 shares of Phillips 66 stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average price of $82.91 per share, with a total value of $165,820.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.13% of the company’s stock.

Several research analysts have commented on PSX shares. ValuEngine upgraded shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th. Jefferies Financial Group started coverage on shares of Pinduoduo in a research report on Monday, April 15th. They set a “buy” rating and a $30.00 price objective for the company. Citigroup upped their price target on shares of from GBX 1,300 ($16.99) to GBX 1,450 ($18.95) and gave the stock a “buy” rating in a report on Friday, June 21st. Morgan Stanley reiterated an “overweight” rating and set a GBX 460 ($6.01) price target on shares of Sophos Group in a report on Friday, May 17th. Finally, Raymond James downgraded shares of First Midwest Bancorp to a “hold” rating in a report on Monday, July 8th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus price target of $117.82.

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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