Janney Montgomery Scott LLC Lowers Holdings in Phillips 66 (NYSE:PSX)

Janney Montgomery Scott LLC reduced its stake in Phillips 66 (NYSE:PSX - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,184 shares of the oil and gas company's stock after selling 2,441 shares during the period. Janney Montgomery Scott LLC owned approximately 0.05% of Phillips 66 worth $26,447,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter valued at $25,000. Pacific Center for Financial Services bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. Graney & King LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $28,000. Wood Tarver Financial Group LLC bought a new stake in Phillips 66 during the fourth quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in Phillips 66 in the 1st quarter worth approximately $29,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

NYSE PSX traded up $0.44 during trading hours on Thursday, hitting $124.98. The company's stock had a trading volume of 5,787,595 shares, compared to its average volume of 3,065,998. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company's 50 day simple moving average is $111.33 and its two-hundred day simple moving average is $117.38. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The company has a market cap of $50.92 billion, a P/E ratio of 28.47, a price-to-earnings-growth ratio of 1.94 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its 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). The company had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period last year, the firm posted $1.90 EPS. As a group, sell-side analysts expect 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. Investors of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is 109.34%.

Analyst Ratings Changes

Several equities research analysts have issued reports on PSX shares. Wells Fargo & Company dropped their price target 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. UBS Group dropped their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research report on Monday, April 28th. TD Cowen increased their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Mizuho lifted their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, Evercore ISI started coverage on shares of Phillips 66 in a research note on Wednesday. They issued an "outperform" rating and a $130.00 price objective for the company. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.93.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease acquired 439 shares of the business'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 purchase, the director now owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by corporate insiders.

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.