Janney Montgomery Scott LLC Sells 1,357 Shares of Phillips 66 (NYSE:PSX)

Janney Montgomery Scott LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 215,853 shares of the oil and gas company’s stock after selling 1,357 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.05% of Phillips 66 worth $28,374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pure Financial Advisors LLC boosted its stake in Phillips 66 by 18.3% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,805 shares of the oil and gas company’s stock valued at $237,000 after purchasing an additional 279 shares during the period. Argonautica Private Wealth Management Inc. boosted its stake in Phillips 66 by 0.7% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 19,969 shares of the oil and gas company’s stock valued at $2,625,000 after purchasing an additional 129 shares during the period. Realta Investment Advisors boosted its stake in Phillips 66 by 30.2% in the 3rd quarter. Realta Investment Advisors now owns 4,010 shares of the oil and gas company’s stock valued at $543,000 after purchasing an additional 931 shares during the period. Farther Finance Advisors LLC boosted its stake in Phillips 66 by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,957 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 354 shares during the period. Finally, Weatherly Asset Management L. P. boosted its stake in Phillips 66 by 3.0% in the 3rd quarter. Weatherly Asset Management L. P. now owns 5,142 shares of the oil and gas company’s stock valued at $676,000 after purchasing an additional 148 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $121.03 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The stock has a market capitalization of $49.98 billion, a P/E ratio of 15.54, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33. The stock has a fifty day moving average of $130.98 and a 200-day moving average of $137.30.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the previous year, the firm earned $4.63 EPS. Phillips 66’s revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 7.77 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.80%. Phillips 66’s payout ratio is presently 59.05%.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Barclays reduced their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

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.