Phillips 66 (NYSE:PSX) Shares Sold by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,388 shares of the oil and gas company's stock after selling 4,334 shares during the period. GF Fund Management CO. LTD.'s holdings in Phillips 66 were worth $13,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Brighton Jones LLC increased its holdings in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after buying an additional 7,214 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Phillips 66 by 17.6% during the fourth quarter. Fisher Asset Management LLC now owns 6,157 shares of the oil and gas company's stock worth $702,000 after purchasing an additional 920 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $49,000. Charles Schwab Investment Management Inc. grew its stake in Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company's stock valued at $342,131,000 after acquiring an additional 101,108 shares in the last quarter. Finally, J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter valued at about $25,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.3%

PSX traded up $0.34 during trading hours on Friday, hitting $126.80. 1,290,860 shares of the company's stock were exchanged, compared to its average volume of 3,110,757. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm has a 50 day moving average of $116.94 and a 200 day moving average of $117.09. The firm has a market cap of $51.66 billion, a P/E ratio of 28.88, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. 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 announced 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). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the company earned $1.90 earnings per share. Analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.79%. Phillips 66's dividend payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PSX shares. Barclays upped their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. TD Cowen boosted 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. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. UBS Group decreased their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Morgan Stanley decreased their target price on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the stock in a transaction that occurred 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 directly owned 56,838 shares of the company's stock, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert W. Pease bought 439 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was bought 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 directly owned 4,091 shares in the company, valued at approximately $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. Corporate insiders own 0.22% of the company's stock.

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.