Praxis Investment Management Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

Praxis Investment Management Inc. increased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 12.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,050 shares of the oil and gas company's stock after buying an additional 3,430 shares during the quarter. Praxis Investment Management Inc.'s holdings in Phillips 66 were worth $3,711,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $25,000. Pacific Center for Financial Services purchased a new stake in Phillips 66 in the 4th quarter valued at about $27,000. Graney & King LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Wood Tarver Financial Group LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $29,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX traded down $1.61 during trading on Tuesday, reaching $119.42. 4,154,435 shares of the company were exchanged, compared to its average volume of 3,085,514. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company's 50-day moving average is $112.91 and its two-hundred day moving average is $117.00. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The company has a market cap of $48.66 billion, a price-to-earnings ratio of 27.20, a P/E/G ratio of 1.94 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter last year, the business posted $1.90 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. This is a positive change 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 4.02%. The ex-dividend date of this dividend was Monday, May 19th. Phillips 66's payout ratio is 109.34%.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease purchased 439 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were purchased at an average price of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at approximately $465,760.35. This represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president now directly owns 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 research report on Thursday, March 27th. Raymond James Financial lowered their target price 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. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Finally, Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a "neutral" rating on the stock. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $133.93.

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.