Lakeview Capital Partners LLC Sells 269 Shares of Phillips 66 (NYSE:PSX)

Lakeview Capital Partners LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 8.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,893 shares of the oil and gas company’s stock after selling 269 shares during the quarter. Lakeview Capital Partners LLC’s holdings in Phillips 66 were worth $296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Advisors Preferred LLC bought a new position in Phillips 66 during the 2nd quarter worth approximately $25,000. Atwater Malick LLC acquired a new position in Phillips 66 in the third quarter valued at $27,000. TRUE Private Wealth Advisors acquired a new position in Phillips 66 in the second quarter valued at $26,000. Manchester Financial Inc. acquired a new position in Phillips 66 in the second quarter valued at $32,000. Finally, Coastal Capital Group Inc. acquired a new position in Phillips 66 in the second quarter valued at $37,000. 69.33% of the stock is owned by institutional investors.

In related news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.13% of the stock is currently owned by company insiders.

Several research firms have issued reports on PSX. Cowen upped their price objective on shares of Phillips 66 from $125.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price target on the stock. in a research report on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Phillips 66 from $102.00 to $115.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Finally, Scotiabank began coverage on shares of Phillips 66 in a research report on Tuesday, September 3rd. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $118.80.

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NYSE PSX traded up $0.13 during mid-day trading on Friday, reaching $119.70. 1,556,669 shares of the stock were exchanged, compared to its average volume of 2,631,109. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $119.92. The business’s fifty day simple moving average is $108.48 and its 200 day simple moving average is $97.69. The stock has a market capitalization of $52.84 billion, a PE ratio of 10.22, a PEG ratio of 2.11 and a beta of 1.10. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.60 by $0.51. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. The firm had revenue of $27.77 billion for the quarter, compared to analyst estimates of $28.31 billion. During the same quarter last year, the business earned $3.10 earnings per share. On average, analysts anticipate that Phillips 66 will post 8.65 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $0.90 per share. The ex-dividend date is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.01%. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.

Phillips 66 Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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