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

GF Fund Management CO. LTD. decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 109,388 shares of the oil and gas company's stock after selling 4,334 shares during the quarter. GF Fund Management CO. LTD.'s holdings in Phillips 66 were worth $13,507,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PSX. Forum Financial Management LP lifted its holdings in shares of Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after buying an additional 77 shares in the last quarter. PFG Private Wealth Management LLC lifted its holdings in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after buying an additional 88 shares in the last quarter. Tortoise Investment Management LLC lifted its holdings in shares of Phillips 66 by 16.1% in the fourth quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock worth $72,000 after buying an additional 88 shares in the last quarter. Smith Moore & CO. lifted its holdings in shares of Phillips 66 by 0.9% in the fourth quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after buying an additional 91 shares in the last quarter. Finally, CWC Advisors LLC. lifted its holdings in shares of Phillips 66 by 1.0% in the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after buying an additional 92 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 0.3%

Phillips 66 stock traded up $0.34 during midday trading on Friday, reaching $126.80. The company's stock had a trading volume of 1,290,860 shares, compared to its average volume of 3,104,736. The stock's 50-day simple moving average is $116.94 and its 200-day simple moving average is $117.05. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The stock has a market capitalization of $51.66 billion, a P/E ratio of 28.88, a PEG ratio of 2.00 and a beta of 1.02.

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

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.79%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Analysts Set New Price Targets

Several equities analysts have recently commented on PSX shares. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. UBS Group reduced their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Mizuho lifted their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $133.93.

Insider Activity

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

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.