Mayflower Financial Advisors LLC Sells 241 Shares of Phillips 66 $PSX

Mayflower Financial Advisors LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,159 shares of the oil and gas company’s stock after selling 241 shares during the period. Mayflower Financial Advisors LLC’s holdings in Phillips 66 were worth $377,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. WealthTrust Axiom LLC boosted its holdings in shares of Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock valued at $894,000 after buying an additional 81 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Phillips 66 by 62.1% in the 2nd quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 82 shares in the last quarter. Magnus Financial Group LLC boosted its stake in Phillips 66 by 2.8% in the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company’s stock worth $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC boosted its stake in Phillips 66 by 2.4% in the 2nd quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company’s stock worth $431,000 after purchasing an additional 85 shares in the last quarter. Finally, XML Financial LLC boosted its stake in Phillips 66 by 0.5% in the 2nd quarter. XML Financial LLC now owns 17,541 shares of the oil and gas company’s stock worth $2,093,000 after purchasing an additional 85 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction dated 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 owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory Hayes purchased 8,350 shares of Phillips 66 stock in a transaction dated Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the transaction, the director directly owned 29,423 shares in the company, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.22% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSX shares. Raymond James Financial reiterated an “outperform” rating and issued a $150.00 price target (up previously from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Wells Fargo & Company started coverage on shares of Phillips 66 in a research note on Friday, October 17th. They issued an “overweight” rating and a $154.00 price target on the stock. TD Cowen boosted their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. UBS Group boosted their target price on Phillips 66 from $143.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, September 22nd. Finally, Evercore ISI boosted their target price on Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Three research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.50.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $137.96 on Thursday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $142.35. The business has a 50-day simple moving average of $132.28 and a two-hundred day simple moving average of $122.90. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The firm has a market cap of $55.75 billion, a price-to-earnings ratio of 33.16, a price-to-earnings-growth ratio of 1.75 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. On average, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be given 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 dividend yield of 3.5%. Phillips 66’s dividend payout ratio is presently 115.38%.

Phillips 66 Company 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.