Phillips 66 $PSX Shares Sold by Atria Investments Inc

Atria Investments Inc reduced its stake in Phillips 66 (NYSE:PSX) by 16.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,624 shares of the oil and gas company’s stock after selling 3,532 shares during the period. Atria Investments Inc’s holdings in Phillips 66 were worth $2,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elliott Investment Management L.P. raised its stake in Phillips 66 by 22.4% during the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after acquiring an additional 3,526,000 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Phillips 66 by 57.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Phillips 66 by 5.0% during the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after buying an additional 10,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 14.8% in the 2nd quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the period. Finally, California Public Employees Retirement System grew its holdings in Phillips 66 by 3.9% in the second quarter. California Public Employees Retirement System now owns 696,577 shares of the oil and gas company’s stock valued at $83,102,000 after purchasing an additional 26,238 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Thursday, January 22nd. The Goldman Sachs Group lifted their price objective on Phillips 66 from $152.00 to $164.00 and gave the stock a “neutral” rating in a research report on Thursday, January 22nd. Barclays upped their target price on shares of Phillips 66 from $141.00 to $142.00 and gave the company an “equal weight” rating in a report on Monday, January 12th. Mizuho lifted their price target on shares of Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a report on Monday, January 12th. Finally, Zacks Research downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $158.72.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the transaction, the executive vice president directly owned 25,799 shares of the company’s stock, valued at $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 34,288 shares of company stock worth $4,867,250. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $159.75 on Tuesday. The company has a market cap of $64.37 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.56 and a beta of 0.90. 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 stock has a 50-day moving average price of $140.81 and a two-hundred day moving average price of $135.18. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same quarter in the previous year, the business earned ($0.15) EPS. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.