Nwam LLC Trims Holdings in Phillips 66 (NYSE:PSX)

Nwam LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 3.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,086 shares of the oil and gas company’s stock after selling 200 shares during the quarter. Nwam LLC’s holdings in Phillips 66 were worth $831,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares in the last quarter. TIAA Trust National Association increased its stake in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares in the last quarter. Duality Advisers LP acquired a new position in Phillips 66 in the 1st quarter worth about $3,596,000. Daiwa Securities Group Inc. grew its holdings in Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares during the period. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock valued at $38,530,000 after buying an additional 36,116 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale 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 corporate insiders.

Phillips 66 Stock Up 0.6 %

PSX stock opened at $138.47 on Friday. The company’s 50 day moving average is $139.72 and its two-hundred day moving average is $145.29. Phillips 66 has a twelve month low of $103.12 and a twelve month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $58.70 billion, a P/E ratio of 10.65, a PEG ratio of 2.27 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period last year, the firm earned $4.21 earnings per share. Research analysts expect that Phillips 66 will post 10.06 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 Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a yield of 3.32%. Phillips 66’s dividend payout ratio is presently 35.38%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSX shares. Wells Fargo & Company lifted their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Raymond James dropped their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. Piper Sandler decreased their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Scotiabank dropped their target price on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a report on Friday, July 12th. Finally, Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research note on Thursday, May 30th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.23.

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.