Phillips 66 $PSX Stock Position Lessened by America First Investment Advisors LLC

America First Investment Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 6.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,580 shares of the oil and gas company’s stock after selling 487 shares during the period. Phillips 66 accounts for 0.2% of America First Investment Advisors LLC’s portfolio, making the stock its 27th biggest holding. America First Investment Advisors LLC’s holdings in Phillips 66 were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Phillips 66 by 14.8% in the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the period. Elliott Investment Management L.P. lifted its holdings in shares of 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 valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Geode Capital Management LLC boosted its stake in Phillips 66 by 17.4% during the second quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after acquiring an additional 537,245 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 11.3% in the first 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 in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial restated an “outperform” rating and issued a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research report on Friday, October 17th. Piper Sandler increased their price objective on Phillips 66 from $159.00 to $170.00 and gave the company a “neutral” rating in a research report on Friday, November 14th. Finally, UBS Group restated a “buy” rating and issued a $160.00 target price on shares of Phillips 66 in a report on Monday, November 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $145.71.

Phillips 66 Price Performance

Shares of PSX opened at $138.43 on Wednesday. The business’s 50-day moving average is $134.22 and its 200-day moving average is $126.65. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market capitalization of $55.78 billion, a price-to-earnings ratio of 37.82, a P/E/G ratio of 1.81 and a beta of 1.08. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The firm 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 previous year, the firm posted $2.04 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,786 shares of company stock valued at $5,348,075. 0.22% of the stock is owned by corporate insiders.

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.