Phillips 66 (NYSE:PSX) Stake Cut by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 19.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,284 shares of the oil and gas company's stock after selling 5,701 shares during the quarter. Johnson Investment Counsel Inc.'s holdings in Phillips 66 were worth $2,999,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Tallon Kerry Patrick acquired a new stake in Phillips 66 during the fourth quarter worth about $336,000. Brighton Jones LLC boosted its stake in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after acquiring an additional 7,214 shares during the period. CIBC Asset Management Inc grew its holdings in shares of Phillips 66 by 1.2% during the fourth quarter. CIBC Asset Management Inc now owns 72,684 shares of the oil and gas company's stock valued at $8,281,000 after purchasing an additional 851 shares during the last quarter. Empower Advisory Group LLC grew its holdings in shares of Phillips 66 by 11.3% during the fourth quarter. Empower Advisory Group LLC now owns 2,742 shares of the oil and gas company's stock valued at $312,000 after purchasing an additional 279 shares during the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of Phillips 66 by 2.0% during the 4th quarter. D.A. Davidson & CO. now owns 63,198 shares of the oil and gas company's stock worth $7,200,000 after purchasing an additional 1,255 shares during the period. Institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease purchased 439 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James Financial reduced their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Barclays raised their target price on Phillips 66 from $106.00 to $115.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. Compass Point began coverage on shares of Phillips 66 in a report on Wednesday. They set a "buy" rating for the company. JPMorgan Chase & Co. set a $115.00 price target on shares of Phillips 66 in a research report on Wednesday. Finally, Wells Fargo & Company cut their price objective on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $133.93.

Phillips 66 Price Performance

NYSE PSX opened at $124.98 on Friday. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The firm has a market capitalization of $50.92 billion, a PE ratio of 28.47, a P/E/G ratio of 1.94 and a beta of 1.02. The company's 50 day simple moving average is $111.89 and its 200 day simple moving average is $117.30. 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 issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the business posted $1.90 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a dividend of $1.20 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.84%. 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%.

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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