Beacon Financial Group Decreases Holdings in Phillips 66 (NYSE:PSX)

Beacon Financial Group cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,459 shares of the oil and gas company's stock after selling 3,320 shares during the period. Beacon Financial Group's holdings in Phillips 66 were worth $3,885,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Bogart Wealth LLC lifted its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in Phillips 66 in the fourth quarter worth approximately $25,000. Pacific Center for Financial Services acquired a new position in Phillips 66 in the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PSX. Scotiabank dropped their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. UBS Group decreased their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company dropped their price objective 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. Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Finally, Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $135.62.

Phillips 66 Stock Down 0.3%

PSX stock traded down $0.37 during mid-day trading on Thursday, reaching $112.12. 2,835,905 shares of the company traded hands, compared to its average volume of 3,016,642. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average price is $108.65 and its 200 day moving average price is $118.26. The stock has a market cap of $45.68 billion, a price-to-earnings ratio of 22.70, a P/E/G ratio of 4.84 and a beta of 1.02. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its 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). The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm earned $1.90 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders 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 dividend yield of 4.28%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend 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.