Intech Investment Management LLC Sells 5,592 Shares of Phillips 66 $PSX

Key Points

• Intech Investment Management cut its Phillips 66 stake by 31.1% in the fourth quarter, selling 5,592 shares and leaving it with 12,369 shares worth about $1.6 million.
• Insider activity was mixed: EVP Brian Mandell sold 42,800 shares in March, while director Kevin Omar Meyers bought 175 shares in May. Overall, insiders sold 92,229 shares over the last three months.
• Phillips 66 posted stronger-than-expected earnings for the latest quarter, with EPS of $0.49 versus expectations for a loss, and it recently paid a quarterly dividend of $1.27 per share, or $5.08 annualized.

Intech Investment Management LLC decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,369 shares of the oil and gas company's stock after selling 5,592 shares during the period. Intech Investment Management LLC's holdings in Phillips 66 were worth $1,596,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PSX. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter valued at $26,000. Accordant Advisory Group Inc raised its position in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company's stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC acquired a new position in Phillips 66 in the fourth quarter worth $27,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company's stock worth $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management bought a new stake in shares of Phillips 66 during the fourth quarter worth $35,000. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president owned 61,595 shares of the company's stock, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of the company's stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 92,229 shares of company stock valued at $15,990,030 in the last three months. Insiders own 0.40% of the company's stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $184.14 on Friday. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 0.27 and a beta of 0.68. Phillips 66 has a 12 month low of $111.37 and a 12 month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $172.71 and a 200 day moving average price of $155.98.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company's revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.90) EPS. Research analysts expect that Phillips 66 will post 17.64 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66's dividend payout ratio is currently 50.05%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSX. Barclays lifted their price target on Phillips 66 from $158.00 to $177.00 and gave the company an "equal weight" rating in a report on Wednesday, April 8th. Piper Sandler raised their price objective on shares of Phillips 66 from $168.00 to $177.00 and gave the company a "neutral" rating in a research report on Wednesday, April 8th. UBS Group boosted their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a research note on Thursday, April 2nd. Mizuho upgraded shares of Phillips 66 from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Phillips 66 from a "buy (b-)" rating to a "hold (c)" rating in a research note on Friday, May 1st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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