Welch Group LLC Sells 195 Shares of Phillips 66 $PSX

Welch Group LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 5.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,311 shares of the oil and gas company’s stock after selling 195 shares during the period. Welch Group LLC’s holdings in Phillips 66 were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Elliott Investment Management L.P. lifted its position in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Phillips 66 by 9,530.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after buying an additional 1,431,450 shares during the last quarter. Nuveen LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $156,482,000. Price T Rowe Associates Inc. MD raised its position in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after purchasing an additional 682,459 shares during the last quarter. Finally, Invesco Ltd. raised its position in Phillips 66 by 15.9% in the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after purchasing an additional 653,248 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average price of $123.55 per share, with a total value of $61,775.00. Following the completion of the purchase, the director directly owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders acquired 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on PSX. Cantor Fitzgerald began coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “neutral” rating for the company. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 26th. Citigroup downgraded Phillips 66 from a “buy” rating to a “neutral” rating and increased their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. UBS Group increased their target price on Phillips 66 from $143.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, September 22nd. Finally, JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research report on Wednesday, June 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $140.75.

Phillips 66 Price Performance

Shares of PSX opened at $127.01 on Monday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. 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 market capitalization of $51.33 billion, a price-to-earnings ratio of 30.53, a price-to-earnings-growth ratio of 1.86 and a beta of 1.11. The business has a 50-day moving average of $129.51 and a 200-day moving average of $120.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. During the same period last year, the company earned $2.31 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.8%. Phillips 66’s dividend payout ratio (DPR) is currently 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.