1248 Management LLC Sells 475 Shares of Phillips 66 $PSX

1248 Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 13.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,035 shares of the oil and gas company’s stock after selling 475 shares during the period. 1248 Management LLC’s holdings in Phillips 66 were worth $375,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. von Borstel & Associates Inc. bought a new stake in shares of Phillips 66 during the 1st quarter worth $27,000. Olde Wealth Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $29,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “buy” rating for the company. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a research note on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $136.20.

Phillips 66 Trading Up 0.6%

Shares of PSX stock opened at $133.69 on Monday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $140.85. The stock has a market cap of $54.03 billion, a price-to-earnings ratio of 32.14, a P/E/G ratio of 1.81 and a beta of 1.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a fifty day moving average of $125.03 and a 200-day moving average of $119.25.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion during the quarter, compared to analysts’ expectations of $32.11 billion. During the same quarter in the prior year, the company posted $2.31 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the sale, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. This trade represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director directly owned 21,543 shares in the company, valued at $2,661,637.65. This represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,850 shares of company stock worth $1,188,910 over the last ninety days. Company insiders own 0.22% of the company’s stock.

About Phillips 66

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.