Connecticut Wealth Management LLC Sells 2,248 Shares of Phillips 66 (NYSE:PSX)

Connecticut Wealth Management LLC lowered its stake in Phillips 66 (NYSE:PSX) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,150 shares of the oil and gas company’s stock after selling 2,248 shares during the period. Connecticut Wealth Management LLC’s holdings in Phillips 66 were worth $952,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Avidian Wealth Solutions LLC increased its holdings in Phillips 66 by 3.1% in the 4th quarter. Avidian Wealth Solutions LLC now owns 4,575 shares of the oil and gas company’s stock valued at $609,000 after buying an additional 136 shares during the period. National Bank of Canada FI boosted its position in shares of Phillips 66 by 150.8% during the 4th quarter. National Bank of Canada FI now owns 458,395 shares of the oil and gas company’s stock worth $61,561,000 after acquiring an additional 275,590 shares in the last quarter. Ellerson Group Inc. ADV increased its stake in Phillips 66 by 4.4% in the fourth quarter. Ellerson Group Inc. ADV now owns 30,421 shares of the oil and gas company’s stock valued at $4,050,000 after acquiring an additional 1,269 shares during the last quarter. Forte Capital LLC ADV acquired a new position in Phillips 66 during the fourth quarter valued at approximately $214,000. Finally, TCG Advisory Services LLC lifted its stake in Phillips 66 by 1,000.4% during the fourth quarter. TCG Advisory Services LLC now owns 107,958 shares of the oil and gas company’s stock worth $14,374,000 after purchasing an additional 98,147 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.2 %

Shares of Phillips 66 stock traded down $0.26 during midday trading on Friday, reaching $143.61. The company had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. The firm has a market cap of $60.88 billion, a PE ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. The stock has a fifty day moving average price of $155.55 and a 200 day moving average price of $138.35. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 1.02. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the prior year, the company posted $4.21 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PSX shares. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group raised their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Piper Sandler upped their price target on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.43.

About Phillips 66

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.