Vestmark Advisory Solutions Inc. Sells 13,006 Shares of Phillips 66 $PSX

Vestmark Advisory Solutions Inc. reduced its position in shares of Phillips 66 (NYSE:PSX) by 85.5% during the second quarter, Holdings Channel reports. The firm owned 2,210 shares of the oil and gas company’s stock after selling 13,006 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Phillips 66 were worth $264,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nvwm LLC boosted its stake in shares of Phillips 66 by 2.3% in the 2nd quarter. Nvwm LLC now owns 4,549 shares of the oil and gas company’s stock worth $543,000 after buying an additional 104 shares during the last quarter. Atlas Legacy Advisors LLC raised its holdings in shares of Phillips 66 by 71.9% in the 2nd quarter. Atlas Legacy Advisors LLC now owns 4,654 shares of the oil and gas company’s stock worth $555,000 after purchasing an additional 1,947 shares during the period. Savant Capital LLC lifted its stake in Phillips 66 by 69.7% in the second quarter. Savant Capital LLC now owns 34,696 shares of the oil and gas company’s stock valued at $4,139,000 after purchasing an additional 14,251 shares during the last quarter. Excalibur Management Corp grew its holdings in Phillips 66 by 18.1% during the second quarter. Excalibur Management Corp now owns 3,964 shares of the oil and gas company’s stock valued at $473,000 after purchasing an additional 607 shares during the period. Finally, Soltis Investment Advisors LLC raised its stake in shares of Phillips 66 by 9.2% in the second quarter. Soltis Investment Advisors LLC now owns 2,500 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.9%

Shares of PSX stock opened at $139.27 on Thursday. The stock’s 50-day moving average price is $133.59 and its 200-day moving average price is $125.55. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.93. The stock has a market capitalization of $56.11 billion, a price-to-earnings ratio of 38.00, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. 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 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same quarter last year, the business posted $2.04 EPS. Equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is presently 131.15%.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 38,786 shares of company stock worth $5,348,075. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of research reports. Piper Sandler increased their target price on shares of Phillips 66 from $155.00 to $159.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Friday, October 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, UBS Group reissued a “buy” rating and issued a $160.00 target price on shares of Phillips 66 in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Hold” and a consensus target price 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.