Callahan Advisors LLC Has $381,000 Stock Position in Phillips 66 (NYSE:PSX)

Callahan Advisors LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 7.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,900 shares of the oil and gas company’s stock after selling 220 shares during the quarter. Callahan Advisors LLC’s holdings in Phillips 66 were worth $381,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Boston Partners lifted its position in shares of Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after buying an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.7 %

Shares of Phillips 66 stock opened at $121.82 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 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 50 day moving average price of $130.73 and a two-hundred day moving average price of $137.07. The stock has a market capitalization of $50.31 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating 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 firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the firm posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 7.69 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid 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 3.78%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSX. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Barclays dropped their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, UBS Group dropped their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has an average 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.