Blackston Financial Advisory Group LLC Sells 432 Shares of Phillips 66 (NYSE:PSX)

by · The Markets Daily

Blackston Financial Advisory Group LLC lessened its position in shares of Phillips 66 (NYSE:PSX – Free Report) by 17.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,012 shares of the oil and gas company’s stock after selling 432 shares during the quarter. Blackston Financial Advisory Group LLC’s holdings in Phillips 66 were worth $264,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter worth $25,000. Keener Financial Planning LLC acquired a new stake in Phillips 66 during the first quarter worth approximately $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the second quarter worth approximately $26,000. nVerses Capital LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on 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 directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $128.49 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The firm has a 50-day moving average of $132.85 and a 200-day moving average of $139.57. Phillips 66 has a one year low of $107.85 and a one year high of $174.08. The company has a market cap of $53.78 billion, a P/E ratio of 11.02, a P/E/G ratio of 5.61 and a beta of 1.33.

Phillips 66 (NYSE:PSX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same quarter last year, the business posted $3.87 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts forecast that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.58%. Phillips 66’s dividend payout ratio (DPR) is currently 39.45%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Wolfe Research started coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Wells Fargo & Company decreased their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Read Our Latest Report on PSX

About Phillips 66

(Free Report)

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.

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