Phillips 66 (NYSE:PSX) Shares Sold by M&T Bank Corp

M&T Bank Corp lowered its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 507,283 shares of the oil and gas company's stock after selling 14,107 shares during the quarter. M&T Bank Corp owned approximately 0.12% of Phillips 66 worth $62,640,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Forum Financial Management LP raised its position in shares of Phillips 66 by 1.0% in the fourth quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after acquiring an additional 77 shares during the period. Tortoise Investment Management LLC grew its position in shares of Phillips 66 by 16.1% during the 4th quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock valued at $72,000 after acquiring an additional 88 shares during the period. Smith Moore & CO. raised its holdings in Phillips 66 by 0.9% in the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after purchasing an additional 91 shares during the period. CWC Advisors LLC. raised its holdings in Phillips 66 by 1.0% in the 4th quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after purchasing an additional 92 shares during the period. Finally, Golden State Wealth Management LLC boosted its position in Phillips 66 by 14.4% during the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Tudor Pickering lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating on the stock. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.93.

Phillips 66 Price Performance

PSX traded up $3.56 on Tuesday, reaching $129.96. 3,819,421 shares of the company's stock were exchanged, compared to its average volume of 3,109,526. The stock has a market cap of $52.95 billion, a PE ratio of 29.60, a P/E/G ratio of 2.00 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The stock's fifty day moving average price is $117.35 and its 200-day moving average price is $117.25. 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 posted its quarterly 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). The business had revenue of $31.92 billion for the quarter, compared to analyst estimates 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 previous year, the firm posted $1.90 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.69%. Phillips 66's payout ratio 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.