Sequoia Financial Advisors LLC Has $3.59 Million Position in Phillips 66 $PSX

Sequoia Financial Advisors LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 2.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,105 shares of the oil and gas company’s stock after selling 778 shares during the period. Sequoia Financial Advisors LLC’s holdings in Phillips 66 were worth $3,592,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WealthTrust Axiom LLC grew its holdings in Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after purchasing an additional 81 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings 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 purchasing an additional 82 shares during the last quarter. Magnus Financial Group LLC grew its holdings in Phillips 66 by 2.8% during the second quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock valued at $368,000 after purchasing an additional 84 shares during the last quarter. Biltmore Wealth Management LLC grew its holdings in Phillips 66 by 2.4% during the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock valued at $431,000 after purchasing an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its holdings in Phillips 66 by 0.5% during the second quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock valued at $2,093,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sigmund L. Cornelius acquired 500 shares of the company’s stock in a transaction on Thursday, July 31st. The shares were bought 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 represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 9,850 shares of company stock valued at $1,188,910. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research reports. Citigroup cut Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. Mizuho increased their price objective on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday, September 15th. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Jefferies Financial Group increased their price objective on Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research report on Friday, October 10th. Finally, Cantor Fitzgerald initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They issued a “neutral” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $140.75.

Phillips 66 Stock Up 0.9%

Shares of PSX stock opened at $130.92 on Wednesday. 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 stock has a fifty day moving average price of $129.85 and a 200 day moving average price of $120.68. Phillips 66 has a one year low of $91.01 and a one year high of $142.35. The stock has a market cap of $52.91 billion, a P/E ratio of 31.47, a price-to-earnings-growth ratio of 1.90 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period in the prior year, the company posted $2.31 earnings per share. Analysts predict 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. 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 3.7%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio 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.