Mader & Shannon Wealth Management Inc. Has $2.50 Million Stake in Phillips 66 (NYSE:PSX)

Mader & Shannon Wealth Management Inc. reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 33.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,219 shares of the oil and gas company's stock after selling 10,010 shares during the quarter. Phillips 66 accounts for 1.4% of Mader & Shannon Wealth Management Inc.'s holdings, making the stock its 15th biggest position. Mader & Shannon Wealth Management Inc.'s holdings in Phillips 66 were worth $2,497,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Wealth Alliance LLC raised its holdings in shares of Phillips 66 by 14.8% during the first quarter. Wealth Alliance LLC now owns 3,506 shares of the oil and gas company's stock valued at $433,000 after acquiring an additional 453 shares during the period. Lindbrook Capital LLC grew its position in Phillips 66 by 5.4% in the first quarter. Lindbrook Capital LLC now owns 3,478 shares of the oil and gas company's stock worth $429,000 after acquiring an additional 178 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Phillips 66 by 23.4% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 252,730 shares of the oil and gas company's stock worth $31,207,000 after acquiring an additional 47,855 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Phillips 66 by 628.7% during the 1st quarter. J.W. Cole Advisors Inc. now owns 52,768 shares of the oil and gas company's stock worth $6,516,000 after buying an additional 45,527 shares during the period. Finally, IFP Advisors Inc boosted its holdings in shares of Phillips 66 by 165.0% during the 1st quarter. IFP Advisors Inc now owns 19,128 shares of the oil and gas company's stock worth $2,362,000 after buying an additional 11,910 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Down 3.2%

Shares of NYSE PSX traded down $4.09 during midday trading on Thursday, reaching $123.76. The company's stock had a trading volume of 1,547,535 shares, compared to its average volume of 3,477,459. 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 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The stock has a market capitalization of $50.42 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 1.95 and a beta of 1.02. The stock has a 50 day simple moving average of $121.58 and a 200-day simple moving average of $118.46.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $31.92 billion for 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 quarter in the prior year, the company earned $1.90 EPS. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Tuesday, August 19th. Phillips 66's dividend payout ratio is presently 109.34%.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Mizuho upped their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research note on Tuesday, May 13th. Evercore ISI assumed coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price for the company. Morgan Stanley set a $128.00 target price on shares of Phillips 66 and gave the stock an "equal weight" rating in a research report on Wednesday, July 16th. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Finally, Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Hold" and a consensus price target of $135.20.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director owned 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 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 disclosure for this sale can be found here. 0.22% of the stock is currently owned by corporate insiders.

About Phillips 66

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.