Richard C. Young & CO. LTD. Has $12.11 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Richard C. Young & CO. LTD. lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 5.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 98,078 shares of the oil and gas company's stock after selling 5,639 shares during the period. Richard C. Young & CO. LTD.'s holdings in Phillips 66 were worth $12,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Brighton Jones LLC lifted its holdings in shares of 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 purchasing an additional 7,214 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Phillips 66 by 11.8% during the fourth quarter. Harbour Investments Inc. now owns 3,660 shares of the oil and gas company's stock worth $417,000 after buying an additional 385 shares in the last quarter. Cibc World Markets Corp grew its holdings in shares of Phillips 66 by 14.5% during the fourth quarter. Cibc World Markets Corp now owns 65,428 shares of the oil and gas company's stock worth $7,454,000 after buying an additional 8,271 shares in the last quarter. Horizon Investments LLC grew its holdings in shares of Phillips 66 by 1.8% during the fourth quarter. Horizon Investments LLC now owns 9,726 shares of the oil and gas company's stock worth $1,108,000 after buying an additional 174 shares in the last quarter. Finally, Evoke Wealth LLC grew its holdings in shares of Phillips 66 by 13.2% during the fourth quarter. Evoke Wealth LLC now owns 1,817 shares of the oil and gas company's stock worth $207,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $0.85 during midday trading on Friday, hitting $126.03. The company had a trading volume of 3,256,697 shares, compared to its average volume of 3,131,471. The business's 50 day simple moving average is $121.05 and its two-hundred day simple moving average is $118.13. The stock has a market cap of $51.35 billion, a PE ratio of 28.71, a P/E/G ratio of 1.99 and a beta of 1.02. 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 has a 1-year low of $91.01 and a 1-year high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. The business had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.81%. Phillips 66's dividend payout ratio is 109.34%.

Insiders Place Their Bets

In other news, EVP Brian Mandell sold 9,800 shares of the company'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 completion of the sale, the executive vice president directly owned 56,838 shares of the company's stock, valued at $7,104,750. This represents a 14.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares of the company's stock, valued at $5,638,490. This represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Citigroup downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and lifted their price target for the stock from $126.00 to $130.00 in a report on Wednesday. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. TD Cowen boosted their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Compass Point assumed coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "buy" rating for the company. Ten analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $135.27.

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.