Harbour Trust & Investment Management Co Sells 2,122 Shares of Phillips 66 (NYSE:PSX)

Harbour Trust & Investment Management Co cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 55.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,689 shares of the oil and gas company's stock after selling 2,122 shares during the quarter. Harbour Trust & Investment Management Co's holdings in Phillips 66 were worth $209,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. DAVENPORT & Co LLC increased its stake in Phillips 66 by 1.0% during the 1st quarter. DAVENPORT & Co LLC now owns 24,039 shares of the oil and gas company's stock worth $2,968,000 after acquiring an additional 246 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Phillips 66 by 1.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 49,226 shares of the oil and gas company's stock worth $6,078,000 after purchasing an additional 929 shares during the period. Cidel Asset Management Inc. increased its stake in Phillips 66 by 7.8% in the first quarter. Cidel Asset Management Inc. now owns 7,084 shares of the oil and gas company's stock valued at $875,000 after acquiring an additional 513 shares during the last quarter. BLB&B Advisors LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $203,000. Finally, JNBA Financial Advisors lifted its stake in Phillips 66 by 155.6% during the first quarter. JNBA Financial Advisors now owns 1,674 shares of the oil and gas company's stock worth $207,000 after purchasing an additional 1,019 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Compass Point assumed coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Barclays boosted their price target 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. Finally, Wells Fargo & Company lowered their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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 on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction dated 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 completion of the transaction, the director owned 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of PSX stock traded up $3.21 during trading hours on Wednesday, hitting $126.36. 2,110,981 shares of the company were exchanged, compared to its average volume of 3,101,980. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $51.48 billion, a price-to-earnings ratio of 28.78, a P/E/G ratio of 1.87 and a beta of 1.02. The firm has a fifty day simple moving average of $115.56 and a 200 day simple moving average of $116.84. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12.

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

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were paid a $1.20 dividend. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.80%. Phillips 66's dividend payout ratio (DPR) is presently 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.