Quotient Wealth Partners LLC Decreases Stake in Phillips 66 $PSX

Quotient Wealth Partners LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 22.5% in the 1st quarter, HoldingsChannel reports. The fund owned 23,545 shares of the oil and gas company’s stock after selling 6,832 shares during the period. Quotient Wealth Partners LLC’s holdings in Phillips 66 were worth $4,289,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Clifford Group LLC lifted its position in shares of Phillips 66 by 2.0% during the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares during the last quarter. CYBER HORNET ETFs LLC increased its holdings in Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after buying an additional 66 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares during the last quarter. Johnson Financial Group Inc. raised its stake in Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares in the last quarter. Finally, L2 Asset Management LLC raised its stake in Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 72 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Scotiabank upped their price objective 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. BMO Capital Markets raised their target price on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Argus upped their price target on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Finally, Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $192.33.

Phillips 66 Stock Performance

NYSE PSX opened at $166.13 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61. The company has a market capitalization of $66.61 billion, a PE ratio of 16.37, a P/E/G ratio of 0.24 and a beta of 0.68. The company has a fifty day moving average of $171.94 and a two-hundred day moving average of $158.93.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company posted ($0.90) earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, analysts expect that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 45,629 shares of company stock worth $8,071,540 in the last 90 days. 0.40% of the stock is currently owned by company insiders.

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.