Sienna Gestion Has $4.94 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Key Points

• Sienna Gestion reduced its stake in Phillips 66 by 6.1%, selling 2,687 shares, with the remaining holdings valued at approximately $4.94 million.
• The company declared a quarterly dividend of $1.20 per share, which translates to an annualized dividend yield of 3.9%.
• Phillips 66 has received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $136.20.

Sienna Gestion lowered its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,182 shares of the oil and gas company's stock after selling 2,687 shares during the period. Sienna Gestion's holdings in Phillips 66 were worth $4,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Nuveen LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $156,482,000. Capitolis Liquid Global Markets LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $142,185,000. GAMMA Investing LLC raised its position in shares of Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company's stock valued at $146,893,000 after buying an additional 1,181,240 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Phillips 66 by 157.6% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after buying an additional 942,922 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Performance

PSX traded up $0.89 during trading on Friday, reaching $123.62. 2,302,957 shares of the company's stock were exchanged, compared to its average volume of 2,434,668. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.85. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $123.85 and a 200 day moving average price of $118.88. The company has a market capitalization of $49.96 billion, a P/E ratio of 29.72, a PEG ratio of 1.70 and a beta of 1.09.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same quarter in the previous year, the company earned $2.31 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a dividend of $1.20 per share. 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 3.9%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius purchased 500 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was acquired at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the acquisition, the director directly owned 21,543 shares of the company's stock, valued at $2,661,637.65. This represents a 2.38% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated 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 directly 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. In the last 90 days, insiders purchased 10,289 shares of company stock valued at $1,238,890. Insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the subject of several research analyst reports. Evercore ISI began coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. Raymond James Financial set a $142.00 price objective on shares of Phillips 66 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Citigroup lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and increased their target price for the company from $126.00 to $130.00 in a research report on Wednesday, July 16th. UBS Group raised their price objective on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Finally, JPMorgan Chase & Co. set a $115.00 price objective on shares of Phillips 66 in a research report on Wednesday, June 18th. Ten analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $136.20.

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.