Pacer Advisors Inc. Sells 4,932 Shares of Phillips 66 $PSX

Pacer Advisors Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 10.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,858 shares of the oil and gas company’s stock after selling 4,932 shares during the period. Pacer Advisors Inc.’s holdings in Phillips 66 were worth $5,272,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Kera Capital Partners Inc. boosted its position in Phillips 66 by 7.3% during the 4th quarter. Kera Capital Partners Inc. now owns 2,422 shares of the oil and gas company’s stock valued at $313,000 after buying an additional 165 shares during the period. MV Capital Management Inc. bought a new stake in Phillips 66 in the 4th quarter worth $286,000. Cambient Family Office LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $204,000. Wick Capital Partners LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at about $289,000. Finally, Mcguire Capital Advisors Inc. bought a new position in shares of Phillips 66 during the fourth quarter valued at about $206,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $168.21 on Tuesday. Phillips 66 has a 1 year low of $118.00 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company’s 50-day moving average is $172.09 and its 200 day moving average is $159.28. The stock has a market capitalization of $67.44 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) 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 company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the firm earned ($0.90) earnings per share. Phillips 66’s revenue was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 18.22 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 3.0%. Phillips 66’s dividend payout ratio is currently 50.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PSX. TD Cowen increased their target price on shares of Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Morgan Stanley boosted their price target on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Raymond James Financial upped their price target on Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. BMO Capital Markets increased their price objective on Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Jefferies Financial Group lifted their price objective on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $192.33.

Insider Activity at Phillips 66

In other news, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 45,629 shares of company stock valued at $8,071,540 in the last three months. Corporate insiders own 0.40% of the company’s stock.

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.