Phillips 66 (NYSE:PSX) Stock Holdings Decreased by Carret Asset Management LLC

Carret Asset Management LLC lessened its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 14.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,338 shares of the oil and gas company's stock after selling 2,498 shares during the quarter. Carret Asset Management LLC's holdings in Phillips 66 were worth $1,770,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after buying an additional 639,323 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock valued at $968,844,000 after buying an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its stake in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after acquiring an additional 440,107 shares during the period. Finally, Norges Bank purchased a new stake in Phillips 66 in the 4th quarter worth approximately $497,648,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Cantor Fitzgerald began coverage on Phillips 66 in a research note on Wednesday. They set a "neutral" rating on the stock. Morgan Stanley reduced 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. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Compass Point initiated coverage on shares of Phillips 66 in a research note on Wednesday. They set a "buy" rating for the company. Finally, The Goldman Sachs Group cut shares of 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. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Trading Up 0.0%

NYSE PSX traded up $0.05 during mid-day trading on Friday, hitting $124.87. The company's stock had a trading volume of 8,493,805 shares, compared to its average volume of 3,075,461. The firm has a market capitalization of $50.88 billion, a P/E ratio of 28.44, a price-to-earnings-growth ratio of 1.94 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 has a 52-week low of $91.01 and a 52-week high of $150.12. The stock's fifty day simple moving average is $112.45 and its two-hundred day simple moving average is $117.14.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (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 return on equity of 4.83% and a net margin of 1.32%. During the same period in the previous year, the company earned $1.90 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 3.84%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Insider Buying and Selling at Phillips 66

In related news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated 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 now directly owns 56,838 shares in the company, valued at approximately $7,104,750. This trade represents a 14.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert W. Pease purchased 439 shares of Phillips 66 stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is currently owned by corporate insiders.

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.