Liberty Wealth Management LLC Reduces Stake in Phillips 66 (NYSE:PSX)

Liberty Wealth Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 19.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,515 shares of the oil and gas company’s stock after selling 373 shares during the quarter. Liberty Wealth Management LLC’s holdings in Phillips 66 were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Madison Park Capital Advisors LLC raised its stake in Phillips 66 by 3.0% during the first quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock worth $383,000 after purchasing an additional 68 shares during the period. Premier Path Wealth Partners LLC raised its position in shares of Phillips 66 by 1.6% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock valued at $729,000 after buying an additional 71 shares during the period. Warwick Investment Management Inc. lifted its holdings in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 73 shares during the last quarter. MV Capital Management Inc. grew its position in Phillips 66 by 9.6% in the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 73 shares during the period. Finally, HCR Wealth Advisors increased its stake in Phillips 66 by 2.9% during the fourth quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 74 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Argus reiterated a “buy” rating and set a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Mizuho cut their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Finally, Wolfe Research initiated coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.85.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $127.95 on Tuesday. The stock has a market cap of $53.56 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. The company has a fifty day simple moving average of $136.90 and a 200-day simple moving average of $144.73. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.87 EPS. Equities analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.