Venturi Wealth Management LLC Lowers Stake in Phillips 66 (NYSE:PSX)

Venturi Wealth Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 52.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,728 shares of the oil and gas company’s stock after selling 5,204 shares during the quarter. Venturi Wealth Management LLC’s holdings in Phillips 66 were worth $621,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new position in Phillips 66 during the 1st quarter worth about $25,000. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $30,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX stock opened at $127.68 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $52.73 billion, a P/E ratio of 16.39, a PEG ratio of 4.12 and a beta of 1.33. The business has a 50 day simple moving average of $129.87 and a 200-day simple moving average of $136.21. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the business posted $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities analysts anticipate that Phillips 66 will post 7.68 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction on Thursday, August 15th. The shares were 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 directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PSX. Mizuho dropped their price target 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. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.