SteelPeak Wealth LLC Sells 11,448 Shares of Phillips 66 $PSX

SteelPeak Wealth LLC trimmed its position in Phillips 66 (NYSE:PSX) by 33.2% in the third quarter, HoldingsChannel.com reports. The firm owned 23,029 shares of the oil and gas company’s stock after selling 11,448 shares during the period. SteelPeak Wealth LLC’s holdings in Phillips 66 were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its stake in Phillips 66 by 238.5% during the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the period. EP Wealth Advisors LLC lifted its position in shares of Phillips 66 by 6.9% during the 1st quarter. EP Wealth Advisors LLC now owns 10,372 shares of the oil and gas company’s stock worth $1,281,000 after buying an additional 671 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in Phillips 66 by 14.3% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 15,474 shares of the oil and gas company’s stock valued at $1,911,000 after buying an additional 1,931 shares in the last quarter. AQR Capital Management LLC boosted its stake in Phillips 66 by 148.0% in the 1st quarter. AQR Capital Management LLC now owns 302,484 shares of the oil and gas company’s stock valued at $37,082,000 after buying an additional 180,495 shares in the last quarter. Finally, Curi RMB Capital LLC bought a new stake in Phillips 66 in the first quarter valued at $336,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $130.56 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.23 and a quick ratio of 0.87. The stock has a market capitalization of $52.60 billion, a P/E ratio of 35.67, a price-to-earnings-growth ratio of 0.34 and a beta of 0.90. The company’s 50 day simple moving average is $135.45 and its 200-day simple moving average is $130.67. Phillips 66 has a one year low of $91.01 and a one year high of $144.96.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same quarter in the prior year, the business earned $2.04 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, November 17th. Phillips 66’s dividend payout ratio is 131.15%.

Insider Activity

In other Phillips 66 news, EVP Brian Mandell sold 26,200 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 81,700 shares of company stock worth $11,318,236. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Jefferies Financial Group boosted their target price on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Barclays boosted their price target on shares of Phillips 66 from $132.00 to $141.00 and gave the company an “equal weight” rating in a research report on Monday, November 17th. Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Wall Street Zen downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, December 20th. Finally, TD Cowen increased their price target on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.82.

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.