Annex Advisory Services LLC Decreases Stock Position in Phillips 66 (NYSE:PSX)

Annex Advisory Services LLC trimmed its stake in Phillips 66 (NYSE:PSX - Free Report) by 94.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,676 shares of the oil and gas company's stock after selling 153,246 shares during the quarter. Annex Advisory Services LLC's holdings in Phillips 66 were worth $1,195,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PSX. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 283.5% in 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 purchased a new position in Phillips 66 during the 4th quarter valued at approximately $497,648,000. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 in the 4th quarter worth $168,790,000. Capitolis Liquid Global Markets LLC purchased a new position in Phillips 66 during the fourth quarter worth $142,185,000. Finally, GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 1,181,240 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Robert W. Pease bought 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, for a total transaction of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Phillips 66 stock traded up $2.28 during mid-day trading on Friday, reaching $114.51. The company had a trading volume of 2,821,031 shares, compared to its average volume of 3,021,660. The business has a fifty day simple moving average of $108.42 and a 200 day simple moving average of $118.13. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a market cap of $46.65 billion, a P/E ratio of 23.18, a P/E/G ratio of 4.84 and a beta of 1.02. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.19%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PSX shares. Mizuho raised their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $135.62.

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.