Allworth Financial LP Lowers Position in Phillips 66 (NYSE:PSX)

Allworth Financial LP trimmed its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,240 shares of the oil and gas company's stock after selling 3,022 shares during the period. Allworth Financial LP's holdings in Phillips 66 were worth $1,511,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 in the 4th quarter valued at $27,000. von Borstel & Associates Inc. purchased a new position in Phillips 66 in the first quarter valued at about $27,000. Graney & King LLC bought a new position in Phillips 66 in the fourth quarter worth about $28,000. Olde Wealth Management LLC bought a new position in Phillips 66 in the first quarter worth about $28,000. Finally, Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PSX shares. UBS Group reduced their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Scotiabank restated a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a research note on Friday. Compass Point initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating for the company. Raymond James Financial lowered their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $135.07.

Phillips 66 Stock Performance

Shares of PSX stock opened at $131.66 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The stock has a market cap of $53.64 billion, a PE ratio of 29.99, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The business has a 50-day simple moving average of $119.47 and a 200-day simple moving average of $117.77.

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

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Insider Activity at Phillips 66

In other news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, 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. 0.22% of the stock is owned by company insiders.

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.

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