Phillips 66 $PSX Shares Sold by Delta Investment Management LLC

Delta Investment Management LLC lessened its stake in Phillips 66 (NYSE:PSX) by 9.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,813 shares of the oil and gas company’s stock after selling 179 shares during the quarter. Delta Investment Management LLC’s holdings in Phillips 66 were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its holdings in shares of Phillips 66 by 0.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 184,549 shares of the oil and gas company’s stock valued at $22,017,000 after purchasing an additional 1,283 shares during the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of Phillips 66 by 48.1% in the 2nd quarter. Wealthfront Advisers LLC now owns 73,273 shares of the oil and gas company’s stock valued at $8,741,000 after purchasing an additional 23,781 shares during the last quarter. Optimum Investment Advisors boosted its holdings in shares of Phillips 66 by 23.9% in the 2nd quarter. Optimum Investment Advisors now owns 1,038 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 200 shares during the last quarter. MQS Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $501,000. Finally, CVA Family Office LLC lifted its holdings in shares of Phillips 66 by 10.0% during the 2nd quarter. CVA Family Office LLC now owns 942 shares of the oil and gas company’s stock valued at $112,000 after acquiring an additional 86 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PSX shares. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Wells Fargo & Company started coverage on shares of Phillips 66 in a report on Friday, October 17th. They set an “overweight” rating and a $154.00 target price on the stock. TD Cowen lifted their target price on shares of Phillips 66 from $130.00 to $134.00 and gave the company a “buy” rating in a report on Monday, July 28th. Mizuho lifted their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a report on Monday, September 15th. Finally, Piper Sandler lifted their target price on shares of Phillips 66 from $154.00 to $155.00 and gave the company a “neutral” rating in a report on Monday, September 29th. Three research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.50.

Insider Activity at Phillips 66

In related news, Director Sigmund L. Cornelius bought 500 shares of the company’s stock in a transaction dated 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 approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim bought 1,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, with a total value of $125,970.00. Following the transaction, the director directly 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 purchased a total of 9,850 shares of company stock worth $1,188,910 over the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $135.40 on Tuesday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The firm has a market capitalization of $54.72 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.77 and a beta of 1.11. The company’s fifty day moving average price is $131.75 and its two-hundred day moving average price is $122.35.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS 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 net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the business posted $2.31 EPS. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. Phillips 66’s payout ratio is presently 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.