Phillips 66 (NYSE:PSX) Shares Sold by Park Place Capital Corp

Park Place Capital Corp decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 55.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,163 shares of the oil and gas company’s stock after selling 2,699 shares during the quarter. Park Place Capital Corp’s holdings in Phillips 66 were worth $305,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Point Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $280,000. Ballentine Partners LLC grew its holdings in Phillips 66 by 16.6% during the 4th quarter. Ballentine Partners LLC now owns 2,803 shares of the oil and gas company’s stock valued at $373,000 after buying an additional 400 shares during the last quarter. Advisory Alpha LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $211,000. Breakwater Capital Group purchased a new position in shares of Phillips 66 during the 4th quarter worth $211,000. Finally, Arvest Investments Inc. purchased a new position in shares of Phillips 66 in the 4th quarter worth $513,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX traded down $1.57 during trading on Monday, hitting $132.19. The stock had a trading volume of 1,183,449 shares, compared to its average volume of 2,676,585. The company has a 50 day moving average price of $138.97 and a 200-day moving average price of $145.97. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of 10.21, a P/E/G ratio of 2.50 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 debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping 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 business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the firm earned $3.87 EPS. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 9.4 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be given a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.48%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Analyst Ratings Changes

Several research firms have commented on PSX. Barclays cut their price objective on Phillips 66 from $142.00 to $136.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Mizuho cut their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, TD Cowen lifted their price target on shares of Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.23.

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.