RFG Advisory LLC Sells 7,381 Shares of Phillips 66 $PSX

RFG Advisory LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 49.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,609 shares of the oil and gas company’s stock after selling 7,381 shares during the period. RFG Advisory LLC’s holdings in Phillips 66 were worth $1,286,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PSX. NFSG Corp increased its position in Phillips 66 by 105.6% during the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Phillips 66 in the first quarter worth $27,000. Compass Financial Management LLC purchased a new stake in shares of Phillips 66 in the second quarter worth $28,000. Kelleher Financial Advisors purchased a new stake in shares of Phillips 66 in the second quarter worth $29,000. Finally, J.Safra Asset Management Corp bought a new position in shares of Phillips 66 during the second quarter valued at $30,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.4%

Shares of NYSE:PSX opened at $259.66 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $265.43. The company has a market cap of $103.61 billion, a P/E ratio of 14.80, a PEG ratio of 0.19 and a beta of 0.71. The stock’s fifty day moving average price is $222.85 and its 200-day moving average price is $189.43.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. During the same period last year, the company earned $2.38 EPS. Sell-side analysts expect that Phillips 66 will post 24.47 earnings per share for the current year.

Phillips 66 declared that its board has initiated a share buyback program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were paid a $1.27 dividend. The ex-dividend date was Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.0%. Phillips 66’s payout ratio is currently 28.95%.

Insider Activity at Phillips 66

In other news, EVP Vanessa Sutherland sold 3,523 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at $5,811,683.85. The trade was a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard Harbison sold 52,100 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares in the company, valued at approximately $8,747,673.44. This trade represents a 57.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 100,507 shares of company stock valued at $21,770,810. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Sunday, July 26th. TD Cowen raised their price objective on shares of Phillips 66 from $240.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Morgan Stanley lifted their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Raymond James Financial upped their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an “outperform” rating in a research note on Monday, July 13th. Finally, Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $222.76.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.