AlphaQuest LLC Sells 1,484 Shares of Phillips 66 $PSX

AlphaQuest LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 24.8% during the second quarter, Holdings Channel.com reports. The firm owned 4,500 shares of the oil and gas company’s stock after selling 1,484 shares during the period. AlphaQuest LLC’s holdings in Phillips 66 were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. raised its stake in Phillips 66 by 1.9% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 941,568 shares of the oil and gas company’s stock valued at $112,329,000 after purchasing an additional 17,247 shares in the last quarter. Catalyst Capital Advisors LLC increased its position in Phillips 66 by 72.1% during the second quarter. Catalyst Capital Advisors LLC now owns 907 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 380 shares during the last quarter. Mader & Shannon Wealth Management Inc. increased its position in Phillips 66 by 0.5% during the second quarter. Mader & Shannon Wealth Management Inc. now owns 20,313 shares of the oil and gas company’s stock valued at $2,423,000 after acquiring an additional 94 shares during the last quarter. AlTi Global Inc. increased its position in Phillips 66 by 5.7% during the second quarter. AlTi Global Inc. now owns 44,629 shares of the oil and gas company’s stock valued at $5,560,000 after acquiring an additional 2,397 shares during the last quarter. Finally, Carnegie Investment Counsel increased its position in Phillips 66 by 4.3% during the second quarter. Carnegie Investment Counsel now owns 27,178 shares of the oil and gas company’s stock valued at $3,242,000 after acquiring an additional 1,118 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction 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 transaction, the executive vice president 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was purchased at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the acquisition, the director directly owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PSX shares. Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Morgan Stanley boosted their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research report on Friday, October 3rd. Scotiabank reissued a “sector perform” rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. UBS Group boosted their target price on shares of Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Finally, Jefferies Financial Group boosted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.50.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $133.92 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 0.79 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. The company’s 50 day moving average is $131.99 and its 200 day moving average is $122.62. The company has a market cap of $54.12 billion, a PE ratio of 32.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.11.

Phillips 66 Announces Dividend

The firm 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 dividend of $1.20 per share. The ex-dividend date is Monday, November 17th. 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%.

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.