Moloney Securities Asset Management LLC Sells 6,729 Shares of Phillips 66 (NYSE:PSX)

Moloney Securities Asset Management LLC trimmed its position in Phillips 66 (NYSE:PSX) by 72.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,581 shares of the oil and gas company’s stock after selling 6,729 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Phillips 66 were worth $339,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the period. Vanguard Group Inc. raised its holdings in Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the period. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after acquiring an additional 402,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Phillips 66 by 1,087.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock valued at $70,563,000 after acquiring an additional 395,617 shares during the period. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 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 value of $4,170,300.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $127.91 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. The firm’s 50 day simple moving average is $130.59 and its 200 day simple moving average is $137.00. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $4.63 EPS. As a group, research analysts expect that Phillips 66 will post 7.69 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given 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 3.60%. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSX. Wolfe Research began coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Barclays decreased their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $150.38.

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.