Callahan Advisors LLC Sells 220 Shares of Phillips 66 (NYSE:PSX)

Callahan Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 7.1% during the third quarter, Holdings Channel reports. The firm owned 2,900 shares of the oil and gas company’s stock after selling 220 shares during the period. Callahan Advisors LLC’s holdings in Phillips 66 were worth $381,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PSX. Norden Group LLC lifted its holdings in Phillips 66 by 73.2% during the first 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 during the period. Jennison Associates LLC lifted its holdings in Phillips 66 by 37.6% during the first 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 during the period. Whittier Trust Co. lifted its holdings in Phillips 66 by 5.9% during the first 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 during the period. Commerce Bank lifted its holdings in Phillips 66 by 3.7% during the first quarter. Commerce Bank now owns 55,410 shares of the oil and gas company’s stock worth $9,051,000 after acquiring an additional 1,979 shares during the period. Finally, Rehmann Capital Advisory Group bought a new stake in Phillips 66 during the first quarter worth $243,000. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $121.82 on Wednesday. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The business has a 50-day simple moving average of $130.73 and a 200 day simple moving average of $137.07. 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 cap of $50.31 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 3.90 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the business earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, research analysts forecast that Phillips 66 will post 7.69 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday. Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Finally, Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

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.