Massachusetts Financial Services Co. MA cut its holdings in Phillips 66 (NYSE:PSX - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 995,595 shares of the oil and gas company's stock after selling 111,802 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.24% of Phillips 66 worth $122,936,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Phillips 66 by 11.8% in the 4th quarter. Harbour Investments Inc. now owns 3,660 shares of the oil and gas company's stock worth $417,000 after purchasing an additional 385 shares in the last quarter. Cibc World Markets Corp grew its position in Phillips 66 by 14.5% in the 4th quarter. Cibc World Markets Corp now owns 65,428 shares of the oil and gas company's stock valued at $7,454,000 after purchasing an additional 8,271 shares during the period. Horizon Investments LLC increased its stake in Phillips 66 by 1.8% during the 4th quarter. Horizon Investments LLC now owns 9,726 shares of the oil and gas company's stock valued at $1,108,000 after purchasing an additional 174 shares in the last quarter. Finally, Evoke Wealth LLC raised its holdings in Phillips 66 by 13.2% during the fourth quarter. Evoke Wealth LLC now owns 1,817 shares of the oil and gas company's stock worth $207,000 after buying an additional 212 shares during the last quarter. 76.93% of the stock is owned by institutional investors.
Insider Activity at Phillips 66
In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Brian Mandell sold 9,800 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by company insiders.
Phillips 66 Stock Performance
Shares of NYSE PSX traded up $0.85 during midday trading on Friday, reaching $126.03. The company's stock had a trading volume of 3,256,697 shares, compared to its average volume of 3,131,471. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm has a 50 day moving average price of $121.05 and a 200-day moving average price of $118.13. The stock has a market capitalization of $51.35 billion, a P/E ratio of 28.71, a PEG ratio of 1.99 and a beta of 1.02. 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 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share 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 business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.
Phillips 66 Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.81%. Phillips 66's payout ratio is 109.34%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research note on Wednesday, June 18th. Compass Point started coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "buy" rating on the stock. Scotiabank reissued a "sector perform" rating and set a $133.00 price objective on shares of Phillips 66 in a report on Friday, July 11th. Cantor Fitzgerald started coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating for the company. Finally, Morgan Stanley set a $128.00 price objective on Phillips 66 and gave the stock an "equal weight" rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $135.27.
Check Out Our Latest Research Report on PSX
Phillips 66 Profile
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Free Report)
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.
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