SpiderRock Advisors LLC Sells 856 Shares of Phillips 66 (NYSE:PSX)

SpiderRock Advisors LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 6.4% in the third quarter, HoldingsChannel reports. The firm owned 12,566 shares of the oil and gas company’s stock after selling 856 shares during the period. SpiderRock Advisors LLC’s holdings in Phillips 66 were worth $1,652,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norden Group LLC raised its position in shares of Phillips 66 by 73.2% in the 1st quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock worth $611,000 after acquiring an additional 1,582 shares in the last quarter. Jennison Associates LLC raised its position in shares of Phillips 66 by 37.6% in the 1st quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company’s stock worth $1,264,000 after acquiring an additional 2,115 shares in the last quarter. Whittier Trust Co. raised its position in shares of Phillips 66 by 5.9% in the 1st quarter. Whittier Trust Co. now owns 3,210 shares of the oil and gas company’s stock worth $524,000 after acquiring an additional 180 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Phillips 66 by 4.9% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 6,076 shares of the oil and gas company’s stock worth $992,000 after acquiring an additional 283 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in Phillips 66 by 69.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after buying an additional 15,542 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 approximately $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. TD Cowen reduced their target price 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. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Barclays reduced their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Finally, Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $150.38.

Phillips 66 Stock Performance

Shares of PSX traded up $0.30 during mid-day trading on Tuesday, reaching $121.33. The company had a trading volume of 353,213 shares, compared to its average volume of 2,662,250. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. 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 $50.11 billion, a P/E ratio of 15.54, a PEG ratio of 3.90 and a beta of 1.33. The stock has a 50 day moving average of $130.98 and a two-hundred day moving average of $137.30.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. On average, analysts expect that Phillips 66 will post 7.69 earnings per share for the current 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 issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.79%. Phillips 66’s payout ratio is 59.05%.

About Phillips 66

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.