Phillips 66 (NYSE:PSX) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. lessened its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.4% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 190,652 shares of the oil and gas company's stock after selling 6,758 shares during the period. Alps Advisors Inc.'s holdings in Phillips 66 were worth $23,542,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after buying an additional 4,455,220 shares during the period. Norges Bank purchased a new position in Phillips 66 during the fourth quarter valued at approximately $497,648,000. Capitolis Liquid Global Markets LLC purchased a new position in Phillips 66 during the fourth quarter valued at approximately $142,185,000. GAMMA Investing LLC increased its holdings in Phillips 66 by 14,119.5% during the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after buying an additional 1,181,240 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Phillips 66 by 157.6% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after buying an additional 942,922 shares during the period. Institutional investors own 76.93% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on PSX shares. Morgan Stanley cut their price target on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. UBS Group cut their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler lifted their price target on shares of Phillips 66 from $131.00 to $148.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, TD Cowen lifted their price target 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. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $135.07.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director directly owned 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of PSX traded up $3.86 during trading hours on Thursday, reaching $134.37. 2,711,692 shares of the company traded hands, compared to its average volume of 3,120,279. The stock has a market capitalization of $54.75 billion, a P/E ratio of 30.61, a P/E/G ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The business has a fifty day moving average price of $118.36 and a 200-day moving average price of $117.43.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its 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). The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Equities analysts anticipate 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 was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. The ex-dividend date was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.57%. Phillips 66's payout ratio is currently 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.