Rockline Wealth Management LLC Decreases Stock Holdings in Phillips 66 $PSX

Rockline Wealth Management LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 1.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,070 shares of the oil and gas company’s stock after selling 396 shares during the period. Rockline Wealth Management LLC’s holdings in Phillips 66 were worth $2,752,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position 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 last quarter. Pinpoint Asset Management Ltd acquired a new position in Phillips 66 in the 1st quarter worth approximately $29,000. Webster Bank N. A. raised its holdings in shares of Phillips 66 by 58.8% during the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. Nova Wealth Management Inc. acquired a new position in shares of Phillips 66 in the 1st quarter valued at about $37,000. Finally, GKV Capital Management Co. Inc. boosted its position in Phillips 66 by 111.5% in the 1st quarter. GKV Capital Management Co. Inc. now owns 330 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.4%

Shares of NYSE PSX opened at $138.02 on Tuesday. The firm has a market cap of $55.61 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 1.81 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 has a 1 year low of $91.01 and a 1 year high of $142.35. The firm’s 50 day moving average price is $132.84 and its 200 day moving average price is $123.92.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 yield of 3.5%. Phillips 66’s payout ratio is currently 131.15%.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the 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 completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were bought at an average price of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director directly owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PSX shares. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen increased their target price on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. Argus upgraded Phillips 66 to a “strong-buy” rating in a report on Thursday, July 31st. Piper Sandler raised their target price on Phillips 66 from $155.00 to $159.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Hold” and a consensus price target of $143.56.

About Phillips 66

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.