Phillips 66 $PSX Shares Sold by Friedenthal Financial

Friedenthal Financial reduced its holdings in Phillips 66 (NYSE:PSX) by 97.9% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 157 shares of the oil and gas company’s stock after selling 7,432 shares during the period. Friedenthal Financial’s holdings in Phillips 66 were worth $29,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Clifford Group LLC lifted its stake in Phillips 66 by 2.0% in the 4th quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock worth $428,000 after purchasing an additional 64 shares in the last quarter. CYBER HORNET ETFs LLC grew its position in shares of Phillips 66 by 5.7% in the fourth quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after purchasing an additional 66 shares in the last quarter. L2 Asset Management LLC grew its position in shares of Phillips 66 by 4.0% in the third quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Phillips 66 by 2.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after purchasing an additional 72 shares during the last quarter. Finally, Johnson Financial Group Inc. increased its holdings in shares of Phillips 66 by 11.9% in the fourth quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 72 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 News Roundup

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Analysts nudged Phillips 66’s fair value estimate higher, citing refining margin trends, tight product inventories, and progress on the company’s refining and midstream initiatives. Phillips 66 (PSX) Stock Sees Modest Fair Value Lift As Analysts Rework Targets
• Positive Sentiment: Wall Street coverage remained broadly favorable, with articles highlighting Phillips 66 as an attractive investment on broker recommendations, which can help support sentiment around the stock. Wall Street Analysts Think Phillips 66 (PSX) Is a Good Investment: Is It?
• Positive Sentiment: Market commentary also singled out Phillips 66 as a top energy idea while oil traded near $70, suggesting investors still see upside in the refining and energy complex. Don’t Miss Out: 2 Top Energy Stocks to Buy Now as Oil Trades Near 70
• Positive Sentiment: Phillips 66 announced a 7-megawatt waste-heat-to-power project with Kanin Energy, a no-upfront-capex initiative that could improve efficiency and reduce emissions. Phillips 66 (PSX) Partners With Kanin Energy On 7 Megawatt Power Project

Analysts Set New Price Targets

A number of research firms have weighed in on PSX. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. BMO Capital Markets lifted their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the company from $170.00 to $212.00 in a research note on Wednesday, May 27th. Finally, Zacks Research upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

Insider Buying and Selling

In related news, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. The trade was a 23.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 45,629 shares of company stock valued at $8,071,540 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 1.7%

Shares of Phillips 66 stock opened at $171.58 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average of $172.74 and a 200 day moving average of $159.93. The company has a market capitalization of $68.79 billion, a P/E ratio of 16.90, a P/E/G ratio of 0.24 and a beta of 0.68. Phillips 66 has a 52-week low of $118.00 and a 52-week high of $190.61.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.90) earnings per share. As a group, research analysts forecast that Phillips 66 will post 18.22 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 3.0%. Phillips 66’s payout ratio is presently 50.05%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.