Miracle Mile Advisors LLC Sells 736 Shares of Phillips 66 (NYSE:PSX)

Miracle Mile Advisors LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 2.2% during the first quarter, Holdings Channel.com reports. The fund owned 33,066 shares of the oil and gas company’s stock after selling 736 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Phillips 66 were worth $4,083,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 in the 4th quarter worth about $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 in the 4th quarter worth about $27,000. Graney & King LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $29,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Wells Fargo & Company cut their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Raymond James cut their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. TD Cowen upped their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Scotiabank cut their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.62.

Phillips 66 Trading Up 2.0%

Shares of PSX stock opened at $114.51 on Monday. The stock has a market capitalization of $46.65 billion, a PE ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The business has a 50-day moving average of $108.22 and a 200 day moving average of $117.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company earned $1.90 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.19%. Phillips 66’s dividend payout ratio is presently 109.34%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.