Brady Family Wealth LLC Lowers Stock Position in Phillips 66 (NYSE:PSX)

Brady Family Wealth LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 0.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,047 shares of the oil and gas company’s stock after selling 219 shares during the quarter. Phillips 66 makes up about 1.5% of Brady Family Wealth LLC’s holdings, making the stock its 25th biggest position. Brady Family Wealth LLC’s holdings in Phillips 66 were worth $4,870,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter valued at $26,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at $26,000. Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $28,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in shares of Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.21.

Phillips 66 Stock Down 3.0 %

Shares of NYSE:PSX opened at $131.40 on Wednesday. The company has a market cap of $55.71 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 5.48 and a beta of 1.33. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The firm has a fifty day moving average price of $133.29 and a two-hundred day moving average price of $140.96. 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 posted its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the previous year, the business earned $3.87 earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 8.19 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

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.