ABLE Financial Group LLC Trims Holdings in Phillips 66 (NYSE:PSX)

ABLE Financial Group LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 9.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,586 shares of the oil and gas company’s stock after selling 165 shares during the quarter. ABLE Financial Group LLC’s holdings in Phillips 66 were worth $224,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $26,000. Redmont Wealth Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth $28,000. Ruedi Wealth Management Inc. boosted its holdings in shares of Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 96 shares during the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 in the 4th quarter worth about $27,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.4 %

Phillips 66 stock traded up $0.59 during trading on Wednesday, reaching $134.97. The company had a trading volume of 2,049,133 shares, compared to its average volume of 2,626,235. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The stock’s 50 day moving average price is $137.88 and its two-hundred day moving average price is $145.48. The firm has a market capitalization of $57.22 billion, a price-to-earnings ratio of 10.34, a PEG ratio of 2.43 and a beta of 1.34. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period in the previous year, the firm earned $3.87 earnings per share. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts expect that Phillips 66 will post 9.53 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.41%. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research reports. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. TD Cowen boosted their target price 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. Finally, Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.38.

Phillips 66 Company 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.