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

Oppenheimer & Co. Inc. trimmed its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,676 shares of the oil and gas company's stock after selling 11,277 shares during the period. Oppenheimer & Co. Inc.'s holdings in Phillips 66 were worth $4,405,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J.Safra Asset Management Corp acquired a new position in Phillips 66 during the fourth quarter valued at $25,000. Pacific Center for Financial Services acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. Graney & King LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new position in Phillips 66 in the fourth quarter valued at approximately $29,000. Finally, Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at approximately $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of the business'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 now owns 4,091 shares in the company, valued at $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Brian Mandell sold 9,800 shares of the firm's 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 completion of the sale, the executive vice president now directly owns 56,838 shares of the company's stock, valued at $7,104,750. This trade represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group decreased 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. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Compass Point initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "buy" rating for the company. Wall Street Zen upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Barclays upped their price objective on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $119.42 on Wednesday. The business has a 50 day simple moving average of $113.38 and a two-hundred day simple moving average of $117.02. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The stock has a market capitalization of $48.66 billion, a P/E ratio of 27.20, a PEG ratio of 1.88 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 (NYSE:PSX - Get Free Report) last posted 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). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.02%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's dividend payout ratio is 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.

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