Phillips 66 $PSX Position Cut by Recurrent Investment Advisors LLC

Recurrent Investment Advisors LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 8.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 414,064 shares of the oil and gas company’s stock after selling 40,677 shares during the period. Phillips 66 makes up about 4.5% of Recurrent Investment Advisors LLC’s portfolio, making the stock its 8th biggest position. Recurrent Investment Advisors LLC owned about 0.10% of Phillips 66 worth $75,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. NFSG Corp increased its position in shares of Phillips 66 by 105.6% during the 1st 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 lifted its position in Phillips 66 by 900.0% in the fourth 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 last quarter. SWAN Capital LLC lifted its position in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter worth $27,000. Finally, Dorato Capital Management purchased a new position in Phillips 66 during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.9%

NYSE:PSX opened at $206.03 on Wednesday. The firm has a 50 day moving average of $183.56 and a 200 day moving average of $169.46. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08. The stock has a market capitalization of $82.60 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 0.17 and a beta of 0.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.90) EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This trade represents a 10.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 45,107 shares of company stock valued at $8,057,584. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PSX shares. UBS Group lifted their price objective on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a report on Monday. Barclays raised their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Piper Sandler reaffirmed a “neutral” rating and set a $208.00 price target on shares of Phillips 66 in a research note on Thursday, July 23rd. Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Finally, The Goldman Sachs Group increased their target price on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.72.

Phillips 66 Company 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.