Savvy Advisors Inc. Sells 998 Shares of Phillips 66 (NYSE:PSX)

Savvy Advisors Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 24.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 3,014 shares of the oil and gas company’s stock after selling 998 shares during the period. Savvy Advisors Inc.’s holdings in Phillips 66 were worth $396,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Phillips 66 by 28.6% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock valued at $282,000 after buying an additional 477 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $817,000. WCM Investment Management LLC raised its position in shares of Phillips 66 by 310.4% in the 3rd quarter. WCM Investment Management LLC now owns 9,890 shares of the oil and gas company’s stock valued at $1,296,000 after acquiring an additional 7,480 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in Phillips 66 by 5.6% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 44,312 shares of the oil and gas company’s stock worth $5,825,000 after acquiring an additional 2,361 shares during the last quarter. Finally, Jupiter Wealth Management LLC grew its holdings in Phillips 66 by 9.3% during the third quarter. Jupiter Wealth Management LLC now owns 8,154 shares of the oil and gas company’s stock valued at $1,072,000 after purchasing an additional 695 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $127.68 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. The stock has a 50 day moving average price of $129.87 and a 200 day moving average price of $136.21. The stock has a market capitalization of $52.73 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 4.19 and a beta of 1.33. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the firm posted $4.63 EPS. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared 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. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent analyst reports. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Mizuho reduced their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Morgan Stanley cut 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 research note on Monday, September 16th. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

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.