Moloney Securities Asset Management LLC Sells 6,729 Shares of Phillips 66 (NYSE:PSX)

Moloney Securities Asset Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 72.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 2,581 shares of the oil and gas company’s stock after selling 6,729 shares during the period. Moloney Securities Asset Management LLC’s holdings in Phillips 66 were worth $339,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of PSX. Crewe Advisors LLC bought a new position in shares of Phillips 66 during the first quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 during the second quarter valued at $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 during the third quarter valued at $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the third quarter valued at $30,000. Finally, Bank & Trust Co bought a new position in shares of Phillips 66 during the second quarter valued at $31,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. Barclays lowered their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 8th. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $150.38.

Phillips 66 Stock Up 5.0 %

Shares of NYSE PSX opened at $127.91 on Thursday. The stock has a market capitalization of $52.83 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. The company has a 50-day moving average price of $130.59 and a 200-day moving average price of $137.00. Phillips 66 has a 1 year low of $110.54 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

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

Phillips 66 Announces Dividend

The firm 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend 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%.

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.