Phillips 66 (NYSE:PSX) Shares Sold by Hendley & Co. Inc.

Hendley & Co. Inc. reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 61.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,835 shares of the oil and gas company's stock after selling 9,435 shares during the quarter. Hendley & Co. Inc.'s holdings in Phillips 66 were worth $721,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new position in Phillips 66 in the 1st quarter worth about $95,000. Compass Wealth Management LLC grew its stake in Phillips 66 by 1,221.5% in the first quarter. Compass Wealth Management LLC now owns 20,629 shares of the oil and gas company's stock worth $2,547,000 after purchasing an additional 19,068 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Phillips 66 by 45.3% in the first quarter. Concurrent Investment Advisors LLC now owns 30,055 shares of the oil and gas company's stock worth $3,711,000 after purchasing an additional 9,376 shares in the last quarter. World Investment Advisors increased its holdings in Phillips 66 by 5.0% during the 1st quarter. World Investment Advisors now owns 8,079 shares of the oil and gas company's stock worth $998,000 after purchasing an additional 385 shares during the period. Finally, von Borstel & Associates Inc. bought a new stake in Phillips 66 during the 1st quarter valued at $27,000. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease bought 439 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased 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 of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 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 sale, the executive vice president owned 56,838 shares of the company's stock, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Phillips 66 Stock Up 2.8%

PSX stock traded up $3.56 on Tuesday, hitting $129.96. 3,819,421 shares of the company's stock were exchanged, compared to its average volume of 3,115,376. The firm has a 50 day moving average price of $117.83 and a two-hundred day moving average price of $117.34. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The stock has a market cap of $52.95 billion, a P/E ratio of 29.60, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX - Get Free Report) last posted 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 company had revenue of $31.92 billion for 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 quarter last year, the company earned $1.90 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.69%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 109.34%.

Analysts Set New Price Targets

Several brokerages have recently commented on PSX. UBS Group cut their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Compass Point started coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "buy" rating on the stock. Scotiabank reduced their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research note on Wednesday, June 18th. Finally, Cantor Fitzgerald began coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $133.93.

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.