Wintrust Investments LLC Reduces Position in Phillips 66 (NYSE:PSX)

Wintrust Investments LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 27.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,290 shares of the oil and gas company’s stock after selling 18,115 shares during the period. Wintrust Investments LLC’s holdings in Phillips 66 were worth $4,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Meridian Wealth Partners LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $26,000. Red Door Wealth Management LLC bought a new position in Phillips 66 in the second quarter valued at about $27,000. Larson Financial Group LLC boosted its holdings in shares of Phillips 66 by 123.6% in the first quarter. Larson Financial Group LLC now owns 389 shares of the oil and gas company’s stock worth $32,000 after buying an additional 215 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Phillips 66 by 72.2% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 415 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 174 shares during the last quarter. Finally, Certified Advisory Corp purchased a new position in Phillips 66 during the first quarter valued at $42,000. Institutional investors and hedge funds own 69.06% of the company’s stock.

PSX has been the subject of several research analyst reports. cut their target price on Phillips 66 from $126.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, July 9th. Piper Sandler raised their price objective on shares of Phillips 66 from $89.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, July 23rd. They noted that the move was a valuation call. Raymond James lowered their target price on shares of Phillips 66 from $101.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, August 4th. Morgan Stanley initiated coverage on Phillips 66 in a research note on Tuesday, September 7th. They issued an “equal weight” rating and a $80.00 price objective on the stock. Finally, dropped their target price on shares of Phillips 66 from $126.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, July 9th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $84.63.

PSX stock traded up $0.58 during trading on Wednesday, reaching $65.82. The stock had a trading volume of 101,212 shares, compared to its average volume of 2,908,798. Phillips 66 has a 1-year low of $43.27 and a 1-year high of $94.34. The company has a market capitalization of $28.83 billion, a P/E ratio of -16.81, a PEG ratio of 1.65 and a beta of 1.69. The company has a current ratio of 1.08, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $72.62 and a 200 day moving average price of $80.29.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Monday, August 2nd. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.14. Phillips 66 had a negative net margin of 2.05% and a negative return on equity of 3.24%. During the same period last year, the company posted ($0.74) earnings per share. Sell-side analysts predict that Phillips 66 will post 1.94 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 1st. Stockholders of record on Wednesday, August 18th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Tuesday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently -404.49%.

About Phillips 66

Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.

Featured Story: What are economic reports?

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.