Phillips 66 (NYSE:PSX) Shares Sold by Pacific Heights Asset Management LLC

Pacific Heights Asset Management LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 50.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the oil and gas company's stock after selling 75,000 shares during the quarter. Pacific Heights Asset Management LLC's holdings in Phillips 66 were worth $9,261,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Forum Financial Management LP increased its stake in Phillips 66 by 1.0% in the 4th 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 last quarter. PFG Private Wealth Management LLC lifted its holdings in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after buying an additional 88 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of Phillips 66 by 16.1% in the 4th quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company's stock worth $72,000 after buying an additional 88 shares during the period. Smith Moore & CO. lifted its holdings in shares of 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 buying an additional 91 shares during the period. Finally, CWC Advisors LLC. lifted its holdings in shares of 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 buying an additional 92 shares during the period. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total value of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction on Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Morgan Stanley decreased their price objective on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Barclays increased their price target on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Compass Point initiated coverage on Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating on the stock. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Finally, Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Price Performance

PSX traded up $0.34 during trading on Friday, hitting $126.80. The company's stock had a trading volume of 1,290,860 shares, compared to its average volume of 3,110,757. 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 twelve month low of $91.01 and a twelve month high of $150.12. The business's fifty day simple moving average is $116.94 and its 200 day simple moving average is $117.09. The firm has a market capitalization of $51.66 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 2.00 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same period in the previous year, the business posted $1.90 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business 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 is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.79%. Phillips 66's dividend payout ratio (DPR) 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.