Patten & Patten Inc. TN Sells 94 Shares of Phillips 66 $PSX

Patten & Patten Inc. TN decreased its position in shares of Phillips 66 (NYSE:PSXFree Report) by 0.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,554 shares of the oil and gas company’s stock after selling 94 shares during the quarter. Patten & Patten Inc. TN’s holdings in Phillips 66 were worth $2,213,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PSX. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares during the period. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $28,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd purchased a new stake in shares of Phillips 66 in the 1st quarter valued at about $29,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $129.69 on Thursday. The firm has a market cap of $52.41 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.84 and a beta of 1.11. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The business’s 50 day moving average price is $130.05 and its 200-day moving average price is $120.75. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07.

Phillips 66 (NYSE:PSXGet Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.31 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael A. Heim acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the transaction, the director owned 12,043 shares in the company, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Mizuho raised their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Raymond James Financial lifted their price target on Phillips 66 from $142.00 to $145.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research note on Wednesday, June 18th. TD Cowen lifted their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research note on Monday, July 28th. Finally, Cantor Fitzgerald began coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a “neutral” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $140.75.

View Our Latest Analysis on PSX

Phillips 66 Company Profile

(Free Report)

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.

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

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