Phillips 66 (NYSE:PSX) Stock Holdings Trimmed by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its position in Phillips 66 (NYSE:PSX - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,186 shares of the oil and gas company's stock after selling 2,190 shares during the period. Phillips 66 accounts for 1.4% of Mattern Capital Management LLC's portfolio, making the stock its 10th biggest position. Mattern Capital Management LLC's holdings in Phillips 66 were worth $11,383,000 at the end of the most recent quarter.

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

Phillips 66 Trading Down 1.3%

Shares of NYSE:PSX opened at $119.42 on Wednesday. The stock has a market capitalization of $48.66 billion, a price-to-earnings 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 quick ratio of 0.88 and a current ratio of 1.23. The stock's 50-day simple moving average is $113.38 and its two-hundred day simple moving average is $117.02. Phillips 66 has a 52-week low of $91.01 and a 52-week 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) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts' expectations 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 business posted $1.90 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 annualized dividend and a 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 (DPR) is presently 109.34%.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 9,800 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the purchase, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PSX shares. Raymond James Financial reduced their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. UBS Group reduced 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. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Finally, Evercore ISI initiated coverage on Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $133.93.

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.

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.