Nisa Investment Advisors LLC Sells 67,138 Shares of Phillips 66 (NYSE:PSX)

Nisa Investment Advisors LLC reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 26.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 183,266 shares of the oil and gas company's stock after selling 67,138 shares during the quarter. Nisa Investment Advisors LLC's holdings in Phillips 66 were worth $22,630,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter worth about $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the 1st quarter worth approximately $27,000. Graney & King LLC acquired a new stake in Phillips 66 in the 4th quarter worth approximately $28,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter worth approximately $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 in the 4th quarter worth approximately $29,000. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the acquisition, the director directly owned 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the firm'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 transaction of $1,225,000.00. Following the completion of the sale, the executive vice president directly 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 company insiders.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research analyst reports. Morgan Stanley cut their price target on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. UBS Group cut their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Evercore ISI initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. Finally, Barclays upped their price target on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $135.07.

Phillips 66 Price Performance

NYSE:PSX traded down $2.29 during trading hours on Friday, reaching $132.10. The company had a trading volume of 726,960 shares, compared to its average volume of 3,545,235. The stock has a 50-day moving average of $118.98 and a two-hundred day moving average of $117.59. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The firm has a market capitalization of $53.82 billion, a PE ratio of 30.09, a PEG ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business 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 previous year, the company posted $1.90 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.63%. Phillips 66's dividend payout ratio is currently 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.