Icon Wealth Advisors LLC Sells 1,724 Shares of Phillips 66 (NYSE:PSX)

Icon Wealth Advisors LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,306 shares of the oil and gas company’s stock after selling 1,724 shares during the period. Icon Wealth Advisors LLC’s holdings in Phillips 66 were worth $2,275,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $25,000. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the second quarter valued at approximately $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the second quarter worth $34,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Barclays reduced their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Morgan Stanley dropped 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 report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $131.90 on Friday. The company has a market capitalization of $54.47 billion, a PE ratio of 16.93, a PEG ratio of 4.29 and a beta of 1.33. The business has a fifty day moving average price of $130.15 and a 200-day moving average price of $135.50. Phillips 66 has a 1-year low of $114.94 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 released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business earned $4.63 EPS. As a group, equities analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.49%. Phillips 66’s dividend payout ratio (DPR) is presently 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.