Baird Financial Group Inc. Sells 23,842 Shares of Phillips 66 (NYSE:PSX)

Baird Financial Group Inc. trimmed its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,640 shares of the oil and gas company's stock after selling 23,842 shares during the quarter. Baird Financial Group Inc. owned approximately 0.05% of Phillips 66 worth $25,479,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. boosted its stake in shares of Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock valued at $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 during the fourth quarter valued at $1,190,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $1,438,000. Smith Group Asset Management LLC bought a new position in shares of Phillips 66 in the 4th quarter worth about $1,149,000. Finally, Corps Capital Advisors LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $412,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Barclays dropped their target price on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Mizuho reduced their target price on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and nine 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 price target of $136.36.

Phillips 66 Stock Down 0.3 %

Phillips 66 stock opened at $106.87 on Tuesday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm's 50-day simple moving average is $113.08 and its 200 day simple moving average is $119.87. The stock has a market cap of $43.54 billion, a PE ratio of 21.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm earned $1.90 EPS. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.49%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Phillips 66 Company Profile

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.

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