HBK Sorce Advisory LLC Has $2.51 Million Stock Holdings in Phillips 66 (NYSE:PSX)

HBK Sorce Advisory LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 2.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,784 shares of the oil and gas company’s stock after selling 456 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Phillips 66 were worth $2,511,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Norges Bank acquired a new position in Phillips 66 in the fourth quarter valued at approximately $559,435,000. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 38.0% in the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after buying an additional 2,209,043 shares during the period. Wellington Management Group LLP grew its position in shares of Phillips 66 by 20.3% during the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the period. Boston Partners raised its position in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSX shares. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Piper Sandler decreased their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Mizuho decreased their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Argus restated a “buy” rating and set a $167.00 target price on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Barclays raised their price objective on shares of Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.92.

Phillips 66 Stock Up 0.6 %

Phillips 66 stock opened at $125.72 on Friday. The firm’s fifty day moving average is $136.03 and its 200 day moving average is $144.32. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The company has a market capitalization of $52.62 billion, a PE ratio of 9.67, a PEG ratio of 4.50 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.87 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on 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 transaction, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

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.