Clarity Financial LLC Sells 127 Shares of Phillips 66 (NYSE:PSX)

Clarity Financial LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 7.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,596 shares of the oil and gas company’s stock after selling 127 shares during the period. Clarity Financial LLC’s holdings in Phillips 66 were worth $210,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PSX. Crewe Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter worth $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth $30,000. Finally, Ruedi Wealth Management Inc. raised its holdings in 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 valued at $31,000 after acquiring an additional 96 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Morgan Stanley decreased their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Phillips 66 Stock Performance

Phillips 66 stock opened at $121.82 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $50.31 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 3.90 and a beta of 1.33. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08. The stock has a 50-day simple moving average of $130.73 and a 200 day simple moving average of $137.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during 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%. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 earnings per share. On average, research analysts anticipate that Phillips 66 will post 7.69 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

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.