Phillips 66 (NYSE:PSX) Stock Holdings Trimmed by First Merchants Corp

First Merchants Corp lessened its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 14.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,201 shares of the oil and gas company's stock after selling 2,379 shares during the period. First Merchants Corp's holdings in Phillips 66 were worth $1,754,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. Brighton Jones LLC boosted its holdings 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 worth $1,166,000 after purchasing an additional 7,214 shares during the period. Lake Street Advisors Group LLC boosted its holdings in shares of Phillips 66 by 3.4% in the 4th quarter. Lake Street Advisors Group LLC now owns 3,227 shares of the oil and gas company's stock valued at $368,000 after buying an additional 106 shares during the period. National Pension Service grew its position in shares of Phillips 66 by 11.9% during the 4th quarter. National Pension Service now owns 1,120,657 shares of the oil and gas company's stock valued at $127,676,000 after buying an additional 118,923 shares during the last quarter. NewEdge Wealth LLC raised its stake in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after acquiring an additional 81 shares during the period. Finally, Whipplewood Advisors LLC bought a new position in Phillips 66 in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Up 0.4%

Shares of NYSE:PSX opened at $120.10 on Friday. The company has a 50 day moving average of $114.26 and a 200-day moving average of $116.97. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a market cap of $48.93 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.86 and a beta of 1.02. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12.

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 firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same period in the previous year, the firm earned $1.90 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.00%. Phillips 66's dividend payout ratio is 109.34%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on PSX shares. Mizuho increased their price target on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 13th. UBS Group lowered their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. set a $115.00 target price on Phillips 66 in a research report on Wednesday, June 18th. Evercore ISI initiated coverage on Phillips 66 in a research note on Wednesday, June 18th. They issued an "outperform" rating and a $130.00 target price on the stock. Finally, Morgan Stanley lowered their price target on shares of Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $133.93.

Insider Buying and Selling

In other news, 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 value of $1,225,000.00. Following the transaction, the executive vice president now owns 56,838 shares of the company's stock, valued at $7,104,750. The trade was a 14.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert W. Pease bought 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

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.

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