Phillips 66 $PSX Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 44.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 860 shares of the oil and gas company’s stock after selling 681 shares during the period. Johnson Financial Group Inc.’s holdings in Phillips 66 were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC increased its stake in Phillips 66 by 62.1% during the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after buying an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd acquired a new stake in shares of Phillips 66 in the first quarter worth approximately $29,000. Webster Bank N. A. increased its position 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 in the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Phillips 66 in the 2nd quarter valued at $32,000. Finally, Nova Wealth Management Inc. purchased a new position in Phillips 66 in the 1st quarter valued at $37,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction that occurred on Friday, September 26th. The shares were 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 in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 64,986 shares of company stock valued at $8,955,291. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 1.6%

Shares of NYSE PSX opened at $137.15 on Friday. The company has a market capitalization of $55.26 billion, a P/E ratio of 37.47, a P/E/G ratio of 1.81 and a beta of 1.08. 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 company has a 50 day simple moving average of $134.67 and a 200-day simple moving average of $127.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $143.25.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.During the same period in the prior year, the business posted $2.04 earnings per share. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Phillips 66 from $140.00 to $142.00 and gave the stock a “neutral” rating in a report on Monday, September 15th. TD Cowen upped their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Finally, BMO Capital Markets increased their price target on Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $145.71.

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.