WealthTrust Axiom LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

WealthTrust Axiom LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,692 shares of the oil and gas company’s stock after selling 247 shares during the quarter. WealthTrust Axiom LLC’s holdings in Phillips 66 were worth $275,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Montreal Can boosted its holdings in shares of Phillips 66 by 9.4% in the second quarter. Bank of Montreal Can now owns 852,142 shares of the oil and gas company’s stock worth $79,710,000 after buying an additional 73,004 shares during the last quarter. First Merchants Corp lifted its holdings in Phillips 66 by 13.5% during the second quarter. First Merchants Corp now owns 17,797 shares of the oil and gas company’s stock valued at $1,665,000 after purchasing an additional 2,117 shares in the last quarter. Mitchell Capital Management Co. lifted its holdings in Phillips 66 by 23.4% during the second quarter. Mitchell Capital Management Co. now owns 17,944 shares of the oil and gas company’s stock valued at $1,678,000 after purchasing an additional 3,405 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in Phillips 66 by 44.1% during the second quarter. Copeland Capital Management LLC now owns 45,198 shares of the oil and gas company’s stock valued at $4,227,000 after purchasing an additional 13,840 shares in the last quarter. Finally, Baxter Bros Inc. lifted its holdings in Phillips 66 by 8.7% during the second quarter. Baxter Bros Inc. now owns 13,334 shares of the oil and gas company’s stock valued at $1,247,000 after purchasing an additional 1,070 shares in the last quarter. 69.33% of the stock is currently owned by institutional investors.

PSX has been the topic of several analyst reports. Raymond James lifted their price target on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. ValuEngine downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Macquarie initiated coverage on shares of Phillips 66 in a report on Thursday, September 5th. They set an “outperform” rating on the stock. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Scotiabank initiated coverage on shares of Phillips 66 in a report on Tuesday, September 3rd. They set an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $118.80.

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Shares of Phillips 66 stock traded up $0.13 on Friday, hitting $119.70. 1,556,669 shares of the company traded hands, compared to its average volume of 2,631,109. The stock has a market capitalization of $52.84 billion, a P/E ratio of 10.22, a price-to-earnings-growth 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 has a 52 week low of $78.44 and a 52 week high of $119.92. The business has a 50-day simple moving average of $108.48 and a 200 day simple moving average of $97.69.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.60 by $0.51. The firm had revenue of $27.77 billion for the quarter, compared to analysts’ expectations of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same quarter last year, the business posted $3.10 earnings per share. Research analysts expect that Phillips 66 will post 8.65 earnings per share for the current year.

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

In other news, EVP Robert A. Herman sold 47,433 shares of Phillips 66 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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

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