Stolper Co Reduces Stock Position in Phillips 66 (NYSE:PSX)

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Stolper Co lowered its position in shares of Phillips 66 (NYSE:PSX) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,832 shares of the oil and gas company’s stock after selling 658 shares during the period. Phillips 66 comprises about 2.0% of Stolper Co’s investment portfolio, making the stock its 19th biggest holding. Stolper Co’s holdings in Phillips 66 were worth $3,008,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSX. Total Clarity Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the 4th quarter worth about $28,000. Efficient Wealth Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth about $28,000. Prestige Wealth Management Group LLC lifted its position in shares of Phillips 66 by 179.5% in the 1st quarter. Prestige Wealth Management Group LLC now owns 559 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 359 shares during the period. Harwood Advisory Group LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth about $36,000. Finally, Altshuler Shaham Ltd lifted its position in shares of Phillips 66 by 825.0% in the 1st quarter. Altshuler Shaham Ltd now owns 703 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 627 shares during the period. 66.88% of the stock is owned by hedge funds and other institutional investors.

Shares of PSX stock traded down $3.57 during trading hours on Thursday, reaching $60.41. The company had a trading volume of 106,563 shares, compared to its average volume of 3,296,473. The business has a fifty day moving average price of $75.97 and a 200-day moving average price of $78.61. Phillips 66 has a one year low of $40.04 and a one year high of $119.92. The firm has a market cap of $28.21 billion, a PE ratio of 94.09, a price-to-earnings-growth ratio of 4.87 and a beta of 1.60. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.61 and a current ratio of 1.11.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, May 1st. The oil and gas company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.39. Phillips 66 had a net margin of 0.35% and a return on equity of 14.90%. The firm had revenue of $21.24 billion during the quarter, compared to analyst estimates of $22.04 billion. During the same period in the previous year, the business posted $0.40 earnings per share. Equities research analysts forecast that Phillips 66 will post 2.54 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.96%. Phillips 66’s dividend payout ratio is presently 44.72%.

PSX has been the subject of several research analyst reports. Royal Bank of Canada raised shares of Phillips 66 from a “sector perform” rating to an “outperform” rating and set a $67.00 target price for the company in a research report on Sunday, March 29th. Cfra lowered their price target on shares of Phillips 66 from $110.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, March 20th. Wells Fargo & Co lowered their price target on shares of Phillips 66 from $130.00 to $78.00 and set an “overweight” rating for the company in a research report on Friday, March 13th. Credit Suisse Group lifted their price target on shares of Phillips 66 from $72.00 to $82.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Finally, Wolfe Research cut shares of Phillips 66 from an “outperform” rating to a “peer perform” rating and set a $98.00 price target for the company. in a research report on Wednesday, May 13th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $91.50.

In other Phillips 66 news, Director John E. Lowe acquired 1,500 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $68.43 per share, with a total value of $102,645.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Kramer Adams acquired 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was acquired at an average cost of $76.40 per share, for a total transaction of $95,500.00. Following the acquisition, the director now owns 10,213 shares of the company’s stock, valued at approximately $780,273.20. The disclosure for this purchase can be found here. Insiders bought 3,750 shares of company stock valued at $268,305 over the last quarter. Company insiders own 0.63% of the company’s stock.

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.

Further Reading: Price to Earnings Ratio (PE)

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

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