Wisconsin Capital Management LLC Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Wisconsin Capital Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 17.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,875 shares of the oil and gas company’s stock after selling 4,455 shares during the quarter. Phillips 66 comprises approximately 1.4% of Wisconsin Capital Management LLC’s portfolio, making the stock its 26th biggest holding. Wisconsin Capital Management LLC’s holdings in Phillips 66 were worth $2,744,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Crewe Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 during the second quarter valued at about $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Finally, Ruedi Wealth Management Inc. boosted its holdings in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 96 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $121.82 on Wednesday. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $130.73 and a 200-day moving average price of $137.07. The firm has a market capitalization of $50.31 billion, a PE ratio of 15.64, a P/E/G ratio of 3.90 and a beta of 1.33.

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. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSX shares. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays lowered their price objective 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. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley reduced their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $150.38.

About Phillips 66

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.