Ashton Thomas Private Wealth LLC Trims Holdings in Phillips 66 (NYSE:PSX)

Ashton Thomas Private Wealth LLC lowered its stake in shares of Phillips 66 (NYSE:PSX) by 1.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 31,073 shares of the oil and gas company’s stock after selling 347 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Phillips 66 were worth $4,387,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter valued at about $26,000. Strategic Financial Concepts LLC purchased a new stake in Phillips 66 during the second quarter worth about $26,000. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $27,000. Finally, Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the first quarter valued at approximately $28,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.6 %

NYSE PSX opened at $128.14 on Monday. The firm’s fifty day moving average price is $137.16 and its 200 day moving average price is $144.86. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a market capitalization of $53.64 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. During the same quarter last year, the business posted $3.87 EPS. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts expect that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend was Tuesday, August 20th. Phillips 66’s payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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 owns 81,937 shares in the company, valued at $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler lowered their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $162.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.85.

Phillips 66 Profile

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.