Phillips 66 (NYSE:PSX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 80.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,360 shares of the oil and gas company's stock after selling 5,615 shares during the period. Shell Asset Management Co.'s holdings in Phillips 66 were worth $155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 during the fourth quarter worth $25,000. Stephens Consulting LLC raised its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 111 shares in the last quarter. Graney & King LLC purchased a new position in Phillips 66 in the fourth quarter valued at $28,000. Finally, Human Investing LLC acquired a new position in Phillips 66 during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Scotiabank decreased their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a research note on Thursday, March 27th. TD Cowen boosted their price target on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. UBS Group reduced their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average price target of $137.86.

Phillips 66 Stock Performance

Shares of PSX stock opened at $121.97 on Tuesday. The stock's 50-day moving average is $111.57 and its two-hundred day moving average is $119.22. The firm has a market cap of $49.70 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12.

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 analysts' consensus estimates 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 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.94%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is presently 109.34%.

About Phillips 66

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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