Phillips 66 (NYSE:PSX) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 58.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,022 shares of the oil and gas company's stock after selling 28,260 shares during the quarter. Cresset Asset Management LLC's holdings in Phillips 66 were worth $2,281,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the period. Norges Bank bought a new stake in Phillips 66 during the 4th quarter valued at $497,648,000. Raymond James Financial Inc. bought a new position in shares of Phillips 66 in the fourth quarter valued at $168,790,000. Capitolis Liquid Global Markets LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth about $142,185,000. Finally, Amundi boosted its stake in Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock valued at $428,081,000 after purchasing an additional 753,653 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $6.94 during mid-day trading on Tuesday, reaching $125.62. The stock had a trading volume of 11,116,528 shares, compared to its average volume of 2,942,970. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business's 50 day moving average price is $111.58 and its 200 day moving average price is $119.18. The company has a market cap of $51.18 billion, a P/E ratio of 25.43, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

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

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Barclays boosted their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a report on Monday. The Goldman Sachs Group lowered 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. Wells Fargo & Company cut their price target 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. Scotiabank decreased their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Finally, TD Cowen raised their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $137.86.

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.