Valley Brook Capital Group Inc. Reduces Position in Phillips 66 (NYSE:PSX)

Valley Brook Capital Group Inc. lowered its stake in Phillips 66 (NYSE:PSXFree Report) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,397 shares of the oil and gas company’s stock after selling 199 shares during the period. Valley Brook Capital Group Inc.’s holdings in Phillips 66 were worth $972,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter worth about $17,670,000. M&G Plc acquired a new stake in shares of Phillips 66 during the second quarter worth about $3,596,000. Duality Advisers LP purchased a new stake in Phillips 66 in the first quarter valued at approximately $3,596,000. Meeder Asset Management Inc. acquired a new position in Phillips 66 in the 1st quarter worth approximately $1,283,000. Finally, Cetera Investment Advisers raised its position in Phillips 66 by 318.9% during the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after buying an additional 108,515 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE PSX traded down $0.75 during trading hours on Thursday, hitting $127.15. 105,108 shares of the company’s stock traded hands, compared to its average volume of 2,658,454. The company has a market capitalization of $52.51 billion, a PE ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. The firm’s 50-day moving average is $130.59 and its 200-day moving average is $137.00.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts forecast that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.62%. Phillips 66’s dividend payout ratio is presently 59.05%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PSX shares. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays lowered their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Read Our Latest Analysis on Phillips 66

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSXFree Report).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.