Phillips 66 (NYSE:PSX) Shares Sold by Western Wealth Management LLC

Western Wealth Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 29.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,194 shares of the oil and gas company's stock after selling 4,186 shares during the period. Western Wealth Management LLC's holdings in Phillips 66 were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. grew its position in shares of Phillips 66 by 12.0% in the fourth quarter. Sunbelt Securities Inc. now owns 4,510 shares of the oil and gas company's stock valued at $505,000 after purchasing an additional 483 shares during the last quarter. Vise Technologies Inc. grew its holdings in Phillips 66 by 63.6% during the 4th quarter. Vise Technologies Inc. now owns 9,449 shares of the oil and gas company's stock valued at $1,076,000 after buying an additional 3,674 shares during the last quarter. Navalign LLC grew its holdings in Phillips 66 by 4.1% during the 4th quarter. Navalign LLC now owns 7,025 shares of the oil and gas company's stock valued at $800,000 after buying an additional 277 shares during the last quarter. Pacific Center for Financial Services purchased a new position in Phillips 66 during the fourth quarter worth $27,000. Finally, Pinkerton Retirement Specialists LLC raised its holdings in shares of Phillips 66 by 8.0% in the fourth quarter. Pinkerton Retirement Specialists LLC now owns 34,956 shares of the oil and gas company's stock worth $3,983,000 after acquiring an additional 2,601 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert W. Pease acquired 439 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at $465,760.35. This represents a 12.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on PSX shares. Raymond James decreased their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Morgan Stanley decreased their target price on shares of 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. Finally, Mizuho lifted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

Phillips 66 Stock Down 0.1%

Shares of PSX traded down $0.07 during midday trading on Wednesday, reaching $114.26. 767,383 shares of the company were exchanged, compared to its average volume of 2,993,945. The stock has a 50-day moving average price of $109.99 and a 200-day moving average price of $118.83. The company has a market cap of $46.55 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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). The company had revenue of $31.92 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $1.90 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's payout ratio is presently 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.