Adell Harriman & Carpenter Inc. Sells 8,021 Shares of Phillips 66 (NYSE:PSX)

Adell Harriman & Carpenter Inc. lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,125 shares of the oil and gas company's stock after selling 8,021 shares during the quarter. Adell Harriman & Carpenter Inc.'s holdings in Phillips 66 were worth $9,647,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PSX. Brighton Jones LLC grew its position in Phillips 66 by 238.5% in the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after purchasing an additional 7,214 shares during the period. Fisher Asset Management LLC grew its position in Phillips 66 by 17.6% in the 4th quarter. Fisher Asset Management LLC now owns 6,157 shares of the oil and gas company's stock valued at $702,000 after purchasing an additional 920 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Phillips 66 in the 4th quarter valued at $49,000. Assetmark Inc. grew its position in Phillips 66 by 12.3% in the 4th quarter. Assetmark Inc. now owns 3,024 shares of the oil and gas company's stock valued at $345,000 after purchasing an additional 332 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in Phillips 66 during the 4th quarter worth $16,771,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Insiders Place Their Bets

In related news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director directly owned 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PSX shares. TD Cowen lifted their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Raymond James Financial cut their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $0.34 during mid-day trading on Friday, reaching $126.80. 1,290,860 shares of the company's stock were exchanged, compared to its average volume of 3,110,757. The firm has a market capitalization of $51.66 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The firm has a 50-day moving average price of $116.94 and a two-hundred day moving average price of $117.09.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.79%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was 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.