Diversified Trust Co Trims Stake in Phillips 66 $PSX

Diversified Trust Co lowered its stake in Phillips 66 (NYSE:PSX) by 12.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,238 shares of the oil and gas company’s stock after selling 630 shares during the quarter. Diversified Trust Co’s holdings in Phillips 66 were worth $506,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Elliott Investment Management L.P. raised its holdings in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 11.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares during the last quarter. Invesco Ltd. raised its holdings in Phillips 66 by 15.9% in the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Phillips 66 by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock valued at $466,886,000 after acquiring an additional 377,132 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 by 3.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,103,316 shares of the oil and gas company’s stock valued at $383,197,000 after acquiring an additional 100,321 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the completion of the sale, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. This represents a 10.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. Argus upgraded Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a “neutral” rating for the company. Scotiabank reiterated a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Finally, Compass Point started coverage on Phillips 66 in a report on Wednesday, June 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $139.38.

Phillips 66 Trading Up 2.0%

Shares of PSX opened at $132.12 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $53.39 billion, a P/E ratio of 31.76, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15. The stock’s fifty day simple moving average is $127.13 and its 200 day simple moving average is $119.87. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.60.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period in the prior year, the firm earned $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio is currently 115.38%.

Phillips 66 Company 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.