Foundry Partners LLC Has $14.91 Million Stock Position in Phillips 66 (NYSE:PSX)

Foundry Partners LLC reduced its position in Phillips 66 (NYSE:PSX) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 105,633 shares of the oil and gas company’s stock after selling 814 shares during the quarter. Foundry Partners LLC’s holdings in Phillips 66 were worth $14,912,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $25,000. Keener Financial Planning LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $26,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at $27,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at $28,000. Finally, First United Bank & Trust bought a new stake in shares of Phillips 66 in the 4th quarter valued at $31,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Up 0.1 %

Shares of NYSE PSX traded up $0.08 during mid-day trading on Friday, reaching $128.97. 308,448 shares of the company’s stock traded hands, compared to its average volume of 2,619,506. The stock has a market cap of $53.98 billion, a P/E ratio of 9.91, a PEG ratio of 2.53 and a beta of 1.33. The business has a 50-day simple moving average of $137.42 and a 200 day simple moving average of $144.93. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $3.87 earnings per share. On average, analysts expect that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PSX. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 2nd. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Argus restated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Wells Fargo & Company raised their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.85.

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.