Phillips 66 $PSX Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN reduced its holdings in Phillips 66 (NYSE:PSX) by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,152,872 shares of the oil and gas company’s stock after selling 951,095 shares during the quarter. Wells Fargo & Company MN’s holdings in Phillips 66 were worth $1,826,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Board of the Pension Protection Fund acquired a new position in Phillips 66 in the fourth quarter valued at $26,000. Accordant Advisory Group Inc increased its stake in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $27,000. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the last quarter. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This represents a 0.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, 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 ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 45,629 shares of company stock valued at $8,071,540 in the last ninety days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $179.27 on Friday. Phillips 66 has a 1-year low of $118.00 and a 1-year high of $190.61. The business has a 50-day moving average of $172.49 and a 200-day moving average of $157.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $71.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter in the prior year, the business earned ($0.90) earnings per share. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts anticipate that Phillips 66 will post 17.86 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio is presently 50.05%.

Analyst Ratings Changes

Several brokerages have commented on PSX. Jefferies Financial Group upped their price target on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. BMO Capital Markets upped their price target on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $170.00 to $212.00 in a research note on Wednesday, May 27th. TD Cowen upped their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Finally, JPMorgan Chase & Co. upped their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $192.33.

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.