Americana Partners LLC Reduces Position in Phillips 66 $PSX

Americana Partners LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 6.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,953 shares of the oil and gas company’s stock after selling 1,522 shares during the period. Americana Partners LLC’s holdings in Phillips 66 were worth $2,619,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PSX. Elliott Investment Management L.P. increased its position in Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after acquiring an additional 1,431,450 shares during the period. Nuveen LLC purchased a new stake in Phillips 66 in the 1st quarter worth approximately $156,482,000. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after acquiring an additional 682,459 shares during the period. Finally, Invesco Ltd. lifted its holdings in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after purchasing an additional 653,248 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.6%

PSX stock opened at $138.74 on Tuesday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The firm’s 50-day moving average is $133.31 and its 200 day moving average is $125.20. The company has a market capitalization of $55.90 billion, a PE ratio of 37.91, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same period in the prior year, the firm earned $2.04 EPS. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on PSX shares. Jefferies Financial Group lifted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. UBS Group reissued a “buy” rating and set a $160.00 price target on shares of Phillips 66 in a report on Monday. Morgan Stanley upped their price objective on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Friday, October 3rd. Argus raised Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Finally, Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $143.56.

Insiders Place Their Bets

In other news, Director Gregory Hayes bought 8,350 shares of the stock in a transaction on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Phillips 66 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.