Regent Investment Management LLC Sells 400 Shares of Phillips 66 (NYSE:PSX)

Regent Investment Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 4.9% in the 3rd quarter, Holdings Channel reports. The fund owned 7,795 shares of the oil and gas company’s stock after selling 400 shares during the quarter. Regent Investment Management LLC’s holdings in Phillips 66 were worth $798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Advisors Preferred LLC bought a new position in Phillips 66 in the second quarter worth $25,000. TRUE Private Wealth Advisors bought a new position in Phillips 66 in the second quarter worth $26,000. Atwater Malick LLC bought a new position in Phillips 66 in the third quarter worth $27,000. Manchester Financial Inc. bought a new position in Phillips 66 in the second quarter worth $32,000. Finally, Coastal Capital Group Inc. bought a new position in Phillips 66 in the second quarter worth $37,000. 68.75% of the stock is owned by institutional investors.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.13% of the company’s stock.

Several brokerages recently commented on PSX. Cowen raised their target price on Phillips 66 from $112.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Macquarie began coverage on Phillips 66 in a research report on Thursday, September 5th. They issued an “outperform” rating for the company. ValuEngine raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank began coverage on Phillips 66 in a research report on Tuesday, September 3rd. They issued an “outperform” rating for the company. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $113.80.

Phillips 66 stock traded up $0.39 during mid-day trading on Friday, hitting $107.60. 117,090 shares of the company were exchanged, compared to its average volume of 2,542,453. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $102.37 and a 200 day moving average of $95.69. Phillips 66 has a 1-year low of $78.44 and a 1-year high of $110.09. The company has a market capitalization of $48.13 billion, a PE ratio of 9.19, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The firm had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. During the same period in the prior year, the company posted $2.80 earnings per share. Research analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.90 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.60 annualized dividend and a yield of 3.35%. Phillips 66’s dividend payout ratio is currently 30.74%.

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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