Avantax Planning Partners Inc. Sells 1,981 Shares of Phillips 66 (NYSE:PSX)

Avantax Planning Partners Inc. lessened its stake in Phillips 66 (NYSE:PSX) by 31.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,254 shares of the oil and gas company’s stock after selling 1,981 shares during the period. Avantax Planning Partners Inc.’s holdings in Phillips 66 were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Meridian Wealth Partners LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at $26,000. Red Door Wealth Management LLC bought a new stake in Phillips 66 during the 2nd quarter worth about $27,000. Larson Financial Group LLC lifted its position in Phillips 66 by 123.6% during the 1st quarter. Larson Financial Group LLC now owns 389 shares of the oil and gas company’s stock worth $32,000 after buying an additional 215 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Phillips 66 by 72.2% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 415 shares of the oil and gas company’s stock worth $33,000 after buying an additional 174 shares in the last quarter. Finally, Certified Advisory Corp bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $42,000. 69.06% of the stock is owned by hedge funds and other institutional investors.

NYSE PSX opened at $65.24 on Wednesday. The company’s 50 day moving average is $72.62 and its 200-day moving average is $80.29. The firm has a market cap of $28.57 billion, a P/E ratio of -16.81, a price-to-earnings-growth ratio of 1.65 and a beta of 1.69. Phillips 66 has a 12-month low of $43.27 and a 12-month high of $94.34. The company has a quick ratio of 0.76, a current ratio of 1.08 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Monday, August 2nd. The oil and gas company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.60 by $0.14. Phillips 66 had a negative net margin of 2.05% and a negative return on equity of 3.24%. During the same quarter in the previous year, the company earned ($0.74) earnings per share. Equities analysts expect that Phillips 66 will post 1.94 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 1st. Investors of record on Wednesday, August 18th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Tuesday, August 17th. This represents a $3.52 annualized dividend and a yield of 5.40%. Phillips 66’s dividend payout ratio is currently -404.49%.

PSX has been the topic of several research analyst reports. Morgan Stanley started coverage on shares of Phillips 66 in a report on Tuesday, September 7th. They issued an “equal weight” rating and a $80.00 price target on the stock. decreased their target price on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 9th. decreased their target price on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, July 9th. Cowen lowered shares of Phillips 66 from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $80.00 to $73.00 in a research report on Friday, August 20th. Finally, Citigroup lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $95.00 to $75.00 in a research report on Thursday, August 26th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $84.63.

Phillips 66 Company Profile

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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