Sigma Planning Corp Sells 1,595 Shares of Phillips 66 $PSX

by · The Markets Daily

Sigma Planning Corp reduced its stake in Phillips 66 (NYSE:PSX – Free Report) by 13.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,679 shares of the oil and gas company’s stock after selling 1,595 shares during the period. Sigma Planning Corp’s holdings in Phillips 66 were worth $1,274,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PSX. Elliott Investment Management L.P. lifted its position in shares of Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after acquiring an additional 14,950,000 shares during the period. Valeo Financial Advisors LLC increased its position in shares of Phillips 66 by 9,530.9% in the second quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock worth $172,564,000 after purchasing an additional 1,431,450 shares during the period. Nuveen LLC acquired a new stake in Phillips 66 during the first quarter worth about $156,482,000. Price T Rowe Associates Inc. MD grew its stake in Phillips 66 by 11.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after buying an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $135.95 on Thursday. The company has a 50 day simple moving average of $133.02 and a 200 day simple moving average of $124.26. The stock has a market cap of $54.78 billion, a price-to-earnings ratio of 37.14, a P/E/G ratio of 1.81 and a beta of 1.08. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $142.35. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion during the quarter, compared to analysts’ expectations of $32.29 billion. During the same period in the prior year, the company earned $2.04 EPS. Research analysts anticipate that Phillips 66 will post 6.8 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 1st. Shareholders of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is 131.15%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction that occurred on Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gregory Hayes purchased 8,350 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was acquired at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on PSX. Evercore ISI boosted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Raymond James Financial reissued an “outperform” rating and issued a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Piper Sandler lifted their price objective on shares of Phillips 66 from $155.00 to $159.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Citigroup cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $126.00 to $130.00 in a research note on Wednesday, July 16th. Finally, Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $143.56.

Check Out Our Latest Stock Report on Phillips 66

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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