Bessemer Group Inc. Decreases Stock Position in Phillips 66 (NYSE:PSX)

Bessemer Group Inc. lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 40.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,756 shares of the oil and gas company's stock after selling 11,847 shares during the period. Bessemer Group Inc.'s holdings in Phillips 66 were worth $2,192,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. J.Safra Asset Management Corp bought a new stake in Phillips 66 in the 4th quarter worth approximately $25,000. Pacific Center for Financial Services purchased a new position in shares of Phillips 66 during the 4th quarter worth $27,000. Graney & King LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $28,000. Wood Tarver Financial Group LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $29,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter valued at $29,000. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president now owns 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PSX shares. Evercore ISI started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price objective for the company. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Scotiabank cut their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Finally, UBS Group cut their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $133.93.

Phillips 66 Price Performance

Shares of PSX traded down $0.74 during midday trading on Friday, hitting $119.43. 10,132,521 shares of the company traded hands, compared to its average volume of 3,104,816. The firm has a 50 day moving average of $114.67 and a 200-day moving average of $116.87. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The stock has a market cap of $48.66 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 1.86 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $31.93 billion. During the same period last year, the company earned $1.90 EPS. On average, analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is 109.34%.

Phillips 66 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.