Geneos Wealth Management Inc. Lowers Position in Phillips 66 (NYSE:PSX)

Geneos Wealth Management Inc. cut its stake in Phillips 66 (NYSE:PSX - Free Report) by 25.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,974 shares of the oil and gas company's stock after selling 14,858 shares during the period. Geneos Wealth Management Inc.'s holdings in Phillips 66 were worth $5,855,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Bornite Capital Management LP purchased a new stake in Phillips 66 in the first quarter worth about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company's stock worth $570,000 after buying an additional 5,012 shares during the period. Synovus Financial Corp lifted its holdings in Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company's stock worth $1,405,000 after buying an additional 788 shares during the period. Cibc World Market Inc. lifted its holdings in shares of Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company's stock valued at $625,000 after purchasing an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company's stock valued at $4,625,000 after purchasing an additional 27,267 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a report on Thursday, February 1st. Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a "buy" rating for the company. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a report on Monday, April 1st. Finally, Mizuho lifted their target price on shares of Phillips 66 from $135.00 to $167.00 and gave the company a "neutral" rating in a report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.31.

Insider Activity

In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last 90 days. Company insiders own 4.57% of the company's stock.

Phillips 66 Stock Performance

NYSE:PSX traded down $3.14 during trading hours on Tuesday, reaching $165.41. The company had a trading volume of 2,358,067 shares, compared to its average volume of 3,126,531. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The firm has a market cap of $70.77 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 2.19 and a beta of 1.37. The firm's 50 day moving average price is $151.75 and its 200-day moving average price is $132.99.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. On average, analysts forecast that Phillips 66 will post 13 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.78%. Phillips 66's payout ratio is presently 27.15%.

Phillips 66 Company 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.

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