Mutual of America Capital Management LLC Sells 1,302 Shares of Phillips 66 $PSX

Mutual of America Capital Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 2.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 46,718 shares of the oil and gas company’s stock after selling 1,302 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Phillips 66 were worth $5,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in Phillips 66 by 62.1% during the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after acquiring an additional 82 shares during the period. von Borstel & Associates Inc. bought a new stake in Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC bought a new stake in Phillips 66 during the first quarter valued at about $28,000. Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 during the first quarter valued at about $29,000. Finally, Pinpoint Asset Management Ltd bought a new position in shares of Phillips 66 during the first quarter worth $29,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PSX shares. Morgan Stanley upped their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. UBS Group raised their price objective on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Bank of America lowered Phillips 66 from a “buy” rating to a “neutral” rating and raised their price objective for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. Finally, Piper Sandler raised their price objective on Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a research report on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.50.

Insider Buying and Selling

In related news, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sigmund L. Cornelius purchased 500 shares of the company’s stock in a transaction that occurred on Thursday, July 31st. The stock was bought at an average price of $123.55 per share, with a total value of $61,775.00. Following the transaction, the director owned 21,543 shares of the company’s stock, valued at $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 9,850 shares of company stock worth $1,188,910. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 1.3%

Shares of Phillips 66 stock opened at $128.58 on Wednesday. The firm has a market cap of $51.96 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 1.81 and a beta of 1.11. The business has a 50-day moving average price of $130.84 and a 200-day moving average price of $121.16. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion during 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 quarter last year, the business posted $2.31 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

Phillips 66 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.