Markston International LLC lessened its stake in Phillips 66 (NYSE:PSX) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,994 shares of the oil and gas company’s stock after selling 3,171 shares during the quarter. Markston International LLC’s holdings in Phillips 66 were worth $5,248,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Atlas Private Wealth Management grew its holdings in Phillips 66 by 6.3% during the first quarter. Atlas Private Wealth Management now owns 2,488 shares of the oil and gas company’s stock valued at $133,000 after purchasing an additional 147 shares during the period. RMB Capital Management LLC grew its holdings in Phillips 66 by 2.5% during the first quarter. RMB Capital Management LLC now owns 6,225 shares of the oil and gas company’s stock valued at $333,000 after purchasing an additional 149 shares during the period. Fruth Investment Management grew its holdings in Phillips 66 by 1.2% during the second quarter. Fruth Investment Management now owns 13,600 shares of the oil and gas company’s stock valued at $977,000 after purchasing an additional 167 shares during the period. Wealth Alliance Advisory Group LLC grew its holdings in Phillips 66 by 0.8% during the second quarter. Wealth Alliance Advisory Group LLC now owns 21,730 shares of the oil and gas company’s stock valued at $1,562,000 after purchasing an additional 168 shares during the period. Finally, Goodman Financial Corp grew its holdings in Phillips 66 by 4.9% during the first quarter. Goodman Financial Corp now owns 3,741 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 174 shares during the period. 65.91% of the stock is owned by institutional investors and hedge funds.

In related news, Director John E. Lowe acquired 1,500 shares of the firm’s stock in a transaction on Friday, June 26th. The shares were purchased at an average cost of $68.43 per share, for a total transaction of $102,645.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 5,000 shares of company stock worth $325,600. Corporate insiders own 0.63% of the company’s stock.

A number of brokerages have weighed in on PSX. Raymond James cut their price target on shares of Phillips 66 from $75.00 to $69.00 and set an “outperform” rating on the stock in a research note on Friday. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating and set a $73.00 price target on the stock in a research note on Monday, July 20th. Morgan Stanley cut their price target on shares of Phillips 66 from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Piper Sandler cut their price target on shares of Phillips 66 from $87.00 to $84.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Friday, September 11th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Phillips 66 presently has a consensus rating of “Buy” and a consensus target price of $79.65.

NYSE PSX traded down $0.41 on Friday, hitting $59.94. 168,794 shares of the stock were exchanged, compared to its average volume of 3,826,824. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 0.73. The business’s fifty day moving average is $61.00 and its 200 day moving average is $65.23. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The company has a market capitalization of $26.35 billion, a PE ratio of -21.79, a P/E/G ratio of 12.98 and a beta of 1.51.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by ($0.55). Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. The firm had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $14.92 billion. During the same period last year, the company posted $3.02 earnings per share. Analysts predict that Phillips 66 will post 0.85 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend was Monday, August 17th. Phillips 66’s dividend payout ratio (DPR) is currently 44.72%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Featured Article: Are we seeing the beginning of a new bubble?

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.