Caxton Associates LLP Sells 6,072 Shares of Phillips 66 $PSX

Caxton Associates LLP lessened its position in Phillips 66 (NYSE:PSX) by 70.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,565 shares of the oil and gas company’s stock after selling 6,072 shares during the period. Caxton Associates LLP’s holdings in Phillips 66 were worth $467,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Accordant Advisory Group Inc boosted its holdings in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the period. SWAN Capital LLC grew its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 190 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. Finally, Dorato Capital Management bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $35,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,021 shares of company stock worth $7,195,257 over the last three months. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Scotiabank lifted their price target on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 22nd. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. The Goldman Sachs Group raised their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Jefferies Financial Group boosted their price target on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen raised shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $201.72.

Phillips 66 Stock Up 0.5%

Shares of NYSE:PSX opened at $207.72 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business has a fifty day moving average of $183.09 and a two-hundred day moving average of $168.98. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $216.08. The stock has a market cap of $83.28 billion, a P/E ratio of 20.46, a PEG ratio of 0.16 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter last year, the company posted ($0.90) EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.4%. Phillips 66’s payout ratio is 50.05%.

About Phillips 66

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.