Avantax Advisory Services Inc. Sells 7,129 Shares of Phillips 66 (NYSE:PSX)

Avantax Advisory Services Inc. trimmed its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,911 shares of the oil and gas company’s stock after selling 7,129 shares during the period. Avantax Advisory Services Inc.’s holdings in Phillips 66 were worth $5,181,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Cornerstone Planning Group LLC grew its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $33,000. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $36,000. Gladius Capital Management LP acquired a new stake in Phillips 66 during the 4th quarter worth $36,000. Finally, Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.9 %

NYSE:PSX traded down $1.26 on Wednesday, hitting $143.59. The stock had a trading volume of 281,534 shares, compared to its average volume of 2,866,647. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The business’s fifty day moving average is $155.75 and its 200 day moving average is $139.77. The company has a market cap of $60.87 billion, a PE ratio of 11.14, a P/E/G ratio of 1.89 and a beta of 1.41.

Phillips 66 (NYSE:PSXGet Free Report) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the firm posted $4.21 EPS. On average, equities research analysts expect that Phillips 66 will post 12.76 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.20%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is 32.31%.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Mizuho cut their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Citigroup began coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $156.21.

Get Our Latest Report on Phillips 66

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of the stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Corporate insiders own 0.22% of the company’s stock.

About Phillips 66

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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