Csenge Advisory Group Reduces Holdings in Phillips 66 (NYSE:PSX)

Csenge Advisory Group cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 49.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,457 shares of the oil and gas company's stock after selling 5,363 shares during the period. Csenge Advisory Group's holdings in Phillips 66 were worth $674,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Brighton Jones LLC lifted its position in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock worth $1,166,000 after acquiring an additional 7,214 shares during the period. Millstone Evans Group LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $55,000. Mizuho Securities USA LLC lifted its position in Phillips 66 by 44.2% during the 4th quarter. Mizuho Securities USA LLC now owns 39,142 shares of the oil and gas company's stock worth $4,459,000 after acquiring an additional 12,000 shares during the period. Plancorp LLC lifted its position in Phillips 66 by 11.5% during the 4th quarter. Plancorp LLC now owns 3,192 shares of the oil and gas company's stock worth $364,000 after acquiring an additional 329 shares during the period. Finally, LPL Financial LLC lifted its holdings in shares of Phillips 66 by 10.2% in the 4th quarter. LPL Financial LLC now owns 734,484 shares of the oil and gas company's stock valued at $83,680,000 after buying an additional 67,993 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on PSX shares. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. TD Cowen lifted their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $135.20.

Insider Activity

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at $5,638,490. The trade was a 9.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Pease acquired 439 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director directly owned 4,091 shares in the company, valued at $465,760.35. The trade was 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 company insiders.

Phillips 66 Trading Up 0.2%

Shares of Phillips 66 stock traded up $0.27 during trading hours on Tuesday, reaching $126.32. 2,224,938 shares of the company's stock were exchanged, compared to its average volume of 3,133,613. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The firm has a market capitalization of $51.47 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 1.95 and a beta of 1.02. The company has a fifty day moving average of $121.35 and a 200-day moving average of $118.27. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63.

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

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.80%. The ex-dividend date is Tuesday, August 19th. Phillips 66's payout ratio is 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.