Patten Group Inc. Sells 327 Shares of Phillips 66 $PSX

Patten Group Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,636 shares of the oil and gas company’s stock after selling 327 shares during the quarter. Patten Group Inc.’s holdings in Phillips 66 were worth $911,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PSX. Brighton Jones LLC grew its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. GAMMA Investing LLC grew its holdings in Phillips 66 by 15.2% during the 1st quarter. GAMMA Investing LLC now owns 9,634 shares of the oil and gas company’s stock valued at $1,190,000 after purchasing an additional 1,268 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in Phillips 66 by 6.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 169,238 shares of the oil and gas company’s stock valued at $20,898,000 after purchasing an additional 10,351 shares during the last quarter. YHB Investment Advisors Inc. grew its holdings in Phillips 66 by 2.1% during the 1st quarter. YHB Investment Advisors Inc. now owns 13,165 shares of the oil and gas company’s stock valued at $1,626,000 after purchasing an additional 273 shares during the last quarter. Finally, S.A. Mason LLC grew its holdings in Phillips 66 by 5.7% during the 1st quarter. S.A. Mason LLC now owns 4,839 shares of the oil and gas company’s stock valued at $598,000 after purchasing an additional 260 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased 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 approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 9,850 shares of company stock worth $1,188,910 over the last quarter. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

Shares of PSX opened at $131.23 on Thursday. The company has a 50 day moving average price of $131.02 and a 200-day moving average price of $121.23. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The stock has a market capitalization of $53.03 billion, a PE ratio of 31.55, a PEG ratio of 1.79 and a beta of 1.11. 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:PSX) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm 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 earned $2.31 EPS. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 115.38%.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their price target for the company from $126.00 to $130.00 in a report on Wednesday, July 16th. Piper Sandler upped their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the stock a “neutral” rating in a research note on Monday, September 29th. Barclays upped their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and upped their target price for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.50.

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.