Wellington Management Group LLP Has $67.15 Million Holdings in Phillips 66 (NYSE:PSX)

Wellington Management Group LLP reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 85.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 589,413 shares of the oil and gas company's stock after selling 3,589,374 shares during the quarter. Wellington Management Group LLP owned about 0.14% of Phillips 66 worth $67,152,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PSX. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 in the fourth quarter valued at approximately $25,000. Pacific Center for Financial Services bought a new position in shares of Phillips 66 during the fourth quarter worth $27,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Finally, Graney & King LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at $28,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 1.2%

Shares of Phillips 66 stock traded down $1.37 during trading on Friday, reaching $113.31. The stock had a trading volume of 4,559,842 shares, compared to its average volume of 3,016,340. The company has a market capitalization of $46.17 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 4.84 and a beta of 1.01. The stock has a fifty day moving average price of $109.26 and a two-hundred day moving average price of $118.59. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results 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 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm earned $1.90 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.24%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. Morgan Stanley dropped their price objective on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. UBS Group reduced their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Tudor Pickering lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Scotiabank reduced their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $135.62.

Insider Activity at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

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.