Recurrent Investment Advisors LLC Sells 40,677 Shares of Phillips 66 $PSX

Recurrent Investment Advisors LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 8.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,064 shares of the oil and gas company’s stock after selling 40,677 shares during the period. Phillips 66 comprises about 4.5% of Recurrent Investment Advisors LLC’s portfolio, making the stock its 8th largest holding. Recurrent Investment Advisors LLC’s holdings in Phillips 66 were worth $75,434,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Clifford Group LLC grew its holdings in Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after purchasing an additional 64 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of Phillips 66 by 0.8% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 8,255 shares of the oil and gas company’s stock valued at $1,504,000 after buying an additional 65 shares in the last quarter. CYBER HORNET ETFs LLC raised its stake in shares of Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock worth $158,000 after buying an additional 66 shares during the period. GHP Investment Advisors Inc. lifted its position in shares of Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after buying an additional 72 shares in the last quarter. Finally, Johnson Financial Group Inc. lifted its position in shares of Phillips 66 by 11.9% during the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $206.03 on Wednesday. The firm has a 50-day simple moving average of $183.56 and a 200-day simple moving average of $169.46. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $82.60 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the business posted ($0.90) earnings per share. Phillips 66’s quarterly revenue was up 6.9% on a year-over-year basis. On average, equities analysts predict that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. Phillips 66’s dividend payout ratio is presently 50.05%.

Analysts Set New Price Targets

Several brokerages recently commented on PSX. Mizuho raised shares of Phillips 66 from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Scotiabank increased their price objective on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Barclays boosted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 9th. Finally, Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $201.72.

Insiders Place Their Bets

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president directly owned 27,537 shares in the company, valued at $5,811,683.85. The trade was a 11.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers bought 175 shares of the stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold 45,107 shares of company stock valued at $8,057,584 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.