Measured Wealth Private Client Group LLC Cuts Position in Phillips 66 (NYSE:PSX)

Share on StockTwits

Measured Wealth Private Client Group LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 53.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,321 shares of the oil and gas company’s stock after selling 2,707 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Phillips 66 were worth $238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Montecito Bank & Trust lifted its stake in shares of Phillips 66 by 4.1% in the second quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after buying an additional 105 shares in the last quarter. AGF Investments LLC lifted its stake in shares of Phillips 66 by 30.5% in the second quarter. AGF Investments LLC now owns 458 shares of the oil and gas company’s stock worth $43,000 after buying an additional 107 shares in the last quarter. Certified Advisory Corp lifted its stake in shares of Phillips 66 by 17.5% in the second quarter. Certified Advisory Corp now owns 738 shares of the oil and gas company’s stock worth $69,000 after buying an additional 110 shares in the last quarter. First National Bank of Hutchinson lifted its stake in shares of Phillips 66 by 2.8% in the second quarter. First National Bank of Hutchinson now owns 4,128 shares of the oil and gas company’s stock worth $424,000 after buying an additional 112 shares in the last quarter. Finally, Securian Asset Management Inc lifted its stake in shares of Phillips 66 by 0.3% in the second quarter. Securian Asset Management Inc now owns 43,029 shares of the oil and gas company’s stock worth $4,025,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 68.71% of the company’s stock.

Several research analysts have recently issued reports on PSX shares. Evercore ISI started coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They issued an “outperform” rating on the stock. Citigroup upgraded shares of Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Scotiabank started coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating on the stock. Macquarie started coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They issued an “outperform” rating on the stock. Finally, ValuEngine upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $113.80.

In related news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by corporate insiders.

Shares of Phillips 66 stock opened at $106.53 on Friday. The company has a market cap of $46.07 billion, a price-to-earnings ratio of 9.02, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The company’s 50 day moving average is $101.09 and its 200 day moving average is $95.38. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $111.33. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion for the quarter, compared to the consensus estimate of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same quarter in the prior year, the firm earned $2.80 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.38%. Phillips 66’s dividend payout ratio (DPR) is 30.74%.

About Phillips 66

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.

Recommended Story: What does an inverted yield curve signify?

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX).

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

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.