Amalgamated Bank Cuts Position in Phillips 66 $PSX

Amalgamated Bank lessened its holdings in Phillips 66 (NYSE:PSX) by 0.7% during the second quarter, Holdings Channel.com reports. The firm owned 79,505 shares of the oil and gas company’s stock after selling 533 shares during the quarter. Amalgamated Bank’s holdings in Phillips 66 were worth $9,485,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WealthTrust Axiom LLC grew its holdings in Phillips 66 by 1.1% in the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company’s stock worth $894,000 after purchasing an additional 81 shares during the period. Wolff Wiese Magana LLC grew its holdings in shares of 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 buying an additional 82 shares during the last quarter. Magnus Financial Group LLC grew its holdings in shares of 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 buying an additional 84 shares during the last quarter. Biltmore Wealth Management LLC grew its holdings in shares of 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 buying an additional 85 shares during the last quarter. Finally, XML Financial LLC grew its holdings in shares of 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 buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6%

Shares of PSX stock opened at $137.17 on Friday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm’s 50 day moving average is $132.54 and its 200 day moving average is $123.00. The stock has a market capitalization of $55.43 billion, a P/E ratio of 37.48, a P/E/G ratio of 1.81 and a beta of 1.11.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same quarter last year, the company posted $2.04 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date is Monday, November 17th. This represents a $4.80 annualized dividend and a yield of 3.5%. Phillips 66’s dividend payout ratio (DPR) is currently 115.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The shares were acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares of the company’s stock, valued at approximately $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred 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 owned 34,587 shares in the company, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSX. Cowen reiterated a “buy” rating on shares of Phillips 66 in a report on Thursday. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Bank of America cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price target for the company from $144.00 to $147.00 in a report on Wednesday, September 3rd. Finally, Wells Fargo & Company increased their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a report on Thursday. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $142.94.

About Phillips 66

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.