Phillips 66 (NYSE:PSX) Position Reduced by Schear Investment Advisers LLC

Schear Investment Advisers LLC lowered its position in Phillips 66 (NYSE:PSX - Free Report) by 74.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,645 shares of the oil and gas company's stock after selling 4,723 shares during the period. Schear Investment Advisers LLC's holdings in Phillips 66 were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Pacific Center for Financial Services acquired a new stake in Phillips 66 during the 4th quarter valued at $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 during the 1st quarter valued at $27,000. Graney & King LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $28,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 during the 1st quarter valued at $28,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Down 2.0%

Shares of PSX traded down $2.73 during trading on Friday, reaching $131.66. The company's stock had a trading volume of 1,679,501 shares, compared to its average volume of 3,124,656. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 29.99, a P/E/G ratio of 2.08 and a beta of 1.02. 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 fifty day moving average of $119.47 and a two-hundred day moving average of $117.77. 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 released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion during 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 posted $1.90 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders 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 3.65%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the sale, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This represents a 9.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease purchased 439 shares of the 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 transaction, the director directly owned 4,091 shares of the company's stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. 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 report on Wednesday, April 9th. UBS Group decreased their price objective on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Cantor Fitzgerald began coverage on Phillips 66 in a report on Wednesday, June 18th. They set a "neutral" rating on the stock. Barclays raised their price objective on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday. Finally, Wells Fargo & Company decreased their price objective on Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Nine analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $135.07.

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.