Roman Butler Fullerton & Co. Sells 75 Shares of Phillips 66 (NYSE:PSX)

Roman Butler Fullerton & Co. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 2.7% in the second quarter, Holdings Channel reports. The institutional investor owned 2,671 shares of the oil and gas company’s stock after selling 75 shares during the period. Roman Butler Fullerton & Co.’s holdings in Phillips 66 were worth $358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $559,435,000. Boston Partners grew its holdings in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after buying an additional 3,494,878 shares in the last quarter. Bank of New York Mellon Corp raised its position in Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after buying an additional 2,209,043 shares during the last quarter. Wellington Management Group LLP lifted its stake in Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 1,578,669 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 a number of recent analyst reports. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler reduced their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Scotiabank decreased their price target on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. Finally, Raymond James upped their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five research 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, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.38.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $1.22 during midday trading on Tuesday, hitting $134.66. The company’s stock had a trading volume of 2,463,327 shares, compared to its average volume of 2,663,518. The stock has a fifty day moving average price of $138.19 and a 200 day moving average price of $146.07. The firm has a market capitalization of $56.36 billion, a price-to-earnings ratio of 10.45, a P/E/G ratio of 2.33 and a beta of 1.34. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period in the previous year, the company posted $3.87 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 9.53 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.42%. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by 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.