Perennial Investment Advisors LLC Has $248,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Perennial Investment Advisors LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 20.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,755 shares of the oil and gas company’s stock after selling 447 shares during the period. Perennial Investment Advisors LLC’s holdings in Phillips 66 were worth $248,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 during the first quarter worth $26,000. Redmont Wealth Advisors LLC acquired a new stake in Phillips 66 in the first quarter worth $28,000. Ruedi Wealth Management Inc. grew its holdings in Phillips 66 by 102.1% in the first quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares during the period. Finally, Ables Iannone Moore & Associates Inc. bought a new stake in Phillips 66 in the fourth quarter valued at $27,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.8 %

NYSE:PSX opened at $128.30 on Wednesday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm has a 50-day moving average price of $135.53 and a two-hundred day moving average price of $143.96. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market cap of $53.70 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 4.53 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. During the same period last year, the business posted $3.87 earnings per share. Phillips 66’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts expect that Phillips 66 will post 9.25 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s payout ratio is 35.38%.

Insider Buying and Selling

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 owns 81,937 shares in the company, valued at $11,390,062.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday. Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Barclays upped their target price on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Finally, Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $155.29.

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.