Chickasaw Capital Management LLC Reduces Holdings in Phillips 66 $PSX

Chickasaw Capital Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 5.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 144,591 shares of the oil and gas company’s stock after selling 7,853 shares during the quarter. Phillips 66 makes up about 0.8% of Chickasaw Capital Management LLC’s holdings, making the stock its 17th biggest position. Chickasaw Capital Management LLC’s holdings in Phillips 66 were worth $19,667,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of PSX. Evolution Wealth Management Inc. purchased a new stake in shares of Phillips 66 in the second quarter valued at $25,000. Wolff Wiese Magana LLC raised its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares during the last quarter. Webster Bank N. A. lifted its holdings in Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $32,000. Finally, Nova Wealth Management Inc. purchased a new stake in shares of Phillips 66 during the first quarter worth about $37,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Wolfe Research upped their price objective on shares of Phillips 66 from $158.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, December 5th. Barclays increased their price target on Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. Wells Fargo & Company lifted their price objective on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Raymond James Financial upped their target price on Phillips 66 from $153.00 to $169.00 and gave the company an “outperform” rating in a research note on Tuesday, November 25th. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. One 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $148.35.

Phillips 66 Trading Up 0.4%

Shares of PSX opened at $132.25 on Thursday. The stock’s fifty day simple moving average is $135.84 and its 200 day simple moving average is $129.80. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $144.96. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $53.28 billion, a P/E ratio of 36.13, a price-to-earnings-growth ratio of 0.69 and a beta of 0.92.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the prior year, the firm posted $2.04 earnings per share. 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 company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of Phillips 66 stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. The trade was a 30.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is currently owned by insiders.

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.