Phillips 66 (NYSE:PSX) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 73,987 shares of the oil and gas company's stock after selling 3,727 shares during the period. Bryn Mawr Capital Management LLC's holdings in Phillips 66 were worth $9,136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. von Borstel & Associates Inc. acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $29,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter valued at about $27,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction dated 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 acquisition, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 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 $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

PSX traded down $0.49 during trading on Tuesday, reaching $128.52. The company's stock had a trading volume of 1,994,498 shares, compared to its average volume of 3,121,361. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The firm has a fifty day simple moving average of $119.91 and a two-hundred day simple moving average of $117.93. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. The company has a market cap of $52.36 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 2.07 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 period last year, the business earned $1.90 earnings per share. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.73%. Phillips 66's dividend payout ratio is currently 109.34%.

Analysts Set New Price Targets

PSX has been the topic of a number of analyst reports. Morgan Stanley dropped their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the company a "neutral" rating in a research report on Tuesday, May 13th. 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. Finally, Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the company an "outperform" rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $135.21.

Phillips 66 Company 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.