Silver Oak Securities Incorporated Sells 674 Shares of Phillips 66 $PSX

Silver Oak Securities Incorporated lessened its position in shares of Phillips 66 (NYSE:PSX) by 28.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,720 shares of the oil and gas company’s stock after selling 674 shares during the period. Silver Oak Securities Incorporated’s holdings in Phillips 66 were worth $205,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. boosted its stake in shares of Phillips 66 by 6.1% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 2,594 shares of the oil and gas company’s stock worth $309,000 after buying an additional 150 shares during the last quarter. AA Financial Advisors LLC boosted its stake in shares of Phillips 66 by 29.4% during the 2nd quarter. AA Financial Advisors LLC now owns 6,932 shares of the oil and gas company’s stock worth $827,000 after buying an additional 1,576 shares during the last quarter. Thomasville National Bank boosted its stake in shares of Phillips 66 by 10.5% during the 2nd quarter. Thomasville National Bank now owns 2,617 shares of the oil and gas company’s stock worth $312,000 after buying an additional 248 shares during the last quarter. Viking Fund Management LLC boosted its stake in shares of Phillips 66 by 5.7% during the 2nd quarter. Viking Fund Management LLC now owns 92,000 shares of the oil and gas company’s stock worth $10,976,000 after buying an additional 5,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Phillips 66 by 1,607.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 254,251 shares of the oil and gas company’s stock worth $30,332,000 after buying an additional 239,358 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $132.12 on Wednesday. The company’s 50 day simple moving average is $127.13 and its 200 day simple moving average is $119.87. The stock has a market capitalization of $53.39 billion, a price-to-earnings ratio of 31.76, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to analysts’ expectations of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the firm posted $2.31 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th were paid a $1.20 dividend. The ex-dividend date of this dividend was Tuesday, August 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. Phillips 66’s payout ratio is currently 115.38%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Michael A. Heim acquired 1,000 shares of Phillips 66 stock in a transaction that occurred on Wednesday, July 30th. The shares were bought at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares in the company, valued at $1,517,056.71. This trade represents a 9.06% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gregory Hayes acquired 8,350 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, for a total transaction of $1,001,165.00. Following the purchase, the director owned 29,423 shares of the company’s stock, valued at $3,527,817.70. The trade was a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 9,850 shares of company stock worth $1,188,910. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent research reports. Citigroup downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $126.00 to $130.00 in a research note on Wednesday, July 16th. Jefferies Financial Group increased their price objective on shares of Phillips 66 from $130.00 to $133.00 and gave the stock a “hold” rating in a research note on Monday, September 15th. Argus upgraded shares of Phillips 66 to a “strong-buy” rating in a research note on Thursday, July 31st. Piper Sandler raised their target price on shares of Phillips 66 from $144.00 to $154.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Finally, Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and raised their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $139.38.

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.