Phillips 66 (NYSE:PSX) Stock Holdings Lessened by Fayez Sarofim & Co

Key Points

• Fayez Sarofim & Co reduced its stake in Phillips 66 by 6.0%, selling 42,745 shares and holding approximately 663,943 shares valued at $81,984,000 as of the latest SEC filing.
• Several institutional investors, including Price T Rowe Associates and Northern Trust Corp, significantly increased their positions in Phillips 66, collectively demonstrating strong interest in the company.
• Phillips 66 has declared a quarterly dividend of $1.20 per share, with an annualized yield of 4.0%, and its payout ratio currently stands at 115.38%.

Fayez Sarofim & Co decreased its stake in Phillips 66 (NYSE:PSX - Free Report) by 6.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 663,943 shares of the oil and gas company's stock after selling 42,745 shares during the period. Fayez Sarofim & Co owned approximately 0.16% of Phillips 66 worth $81,984,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Forum Financial Management LP increased its holdings in Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares during the last quarter. CWC Advisors LLC. lifted its position in shares of Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares during the last quarter. Hager Investment Management Services LLC grew its stake in Phillips 66 by 7.2% in the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after purchasing an additional 96 shares in the last quarter. Golden State Wealth Management LLC increased its holdings in Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock valued at $95,000 after buying an additional 97 shares during the last quarter. Finally, Lantern Wealth Advisors LLC raised its stake in Phillips 66 by 4.7% during the fourth quarter. Lantern Wealth Advisors LLC now owns 2,224 shares of the oil and gas company's stock valued at $253,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity

In other news, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company's stock, valued at $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 1,939 shares of company stock valued at $237,725 over the last 90 days. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $0.16 on Friday, hitting $119.14. The company's stock had a trading volume of 1,694,152 shares, compared to its average volume of 2,537,577. The company has a market capitalization of $48.15 billion, a price-to-earnings ratio of 28.64, a price-to-earnings-growth ratio of 1.61 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $140.85. The stock's 50-day moving average is $123.09 and its two-hundred day moving average is $118.91.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping the consensus estimate of $1.79 by $0.59. The business had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the prior year, the company posted $2.31 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 4.0%. Phillips 66's payout ratio is presently 115.38%.

Wall Street Analyst Weigh In

PSX has been the subject of several research reports. Morgan Stanley lifted their target price on Phillips 66 from $122.00 to $128.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a report on Wednesday, June 18th. Scotiabank reissued a "sector perform" rating and set a $133.00 target price on shares of Phillips 66 in a report on Friday, July 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. Finally, Compass Point started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set a "buy" rating for the company. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

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.