Foundry Partners LLC Sells 814 Shares of Phillips 66 (NYSE:PSX)

Foundry Partners LLC decreased its stake in Phillips 66 (NYSE:PSX) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 105,633 shares of the oil and gas company’s stock after selling 814 shares during the period. Foundry Partners LLC’s holdings in Phillips 66 were worth $14,912,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PSX. International Assets Investment Management LLC bought a new stake in Phillips 66 in the fourth quarter worth about $1,910,000. Private Advisor Group LLC raised its position in Phillips 66 by 9.6% in the fourth quarter. Private Advisor Group LLC now owns 45,594 shares of the oil and gas company’s stock worth $6,070,000 after acquiring an additional 3,981 shares during the period. Apollon Wealth Management LLC raised its position in Phillips 66 by 23.9% in the fourth quarter. Apollon Wealth Management LLC now owns 10,500 shares of the oil and gas company’s stock worth $1,398,000 after acquiring an additional 2,028 shares during the period. Gryphon Financial Partners LLC raised its position in Phillips 66 by 11.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock worth $546,000 after acquiring an additional 426 shares during the period. Finally, Wealthspire Advisors LLC raised its position in Phillips 66 by 11.7% in the fourth quarter. Wealthspire Advisors LLC now owns 11,558 shares of the oil and gas company’s stock worth $1,539,000 after acquiring an additional 1,212 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Price Performance

PSX stock traded up $0.08 during midday trading on Friday, reaching $128.97. The company had a trading volume of 308,448 shares, compared to its average volume of 2,619,506. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a market capitalization of $53.98 billion, a P/E ratio of 9.91, a P/E/G ratio of 2.53 and a beta of 1.33. The firm has a 50-day moving average price of $137.42 and a 200-day moving average price of $144.93.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the company earned $3.87 EPS. The firm’s revenue was up 8.9% on a year-over-year basis. On average, research analysts anticipate that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Piper Sandler lowered their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. Mizuho lowered their price target on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Raymond James boosted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Scotiabank lowered their price target on shares of Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a research report on Friday, July 12th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.85.

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.