Foundry Partners LLC Sells 46,683 Shares of Phillips 66 (NYSE:PSX)

Foundry Partners LLC decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 29.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,784 shares of the oil and gas company's stock after selling 46,683 shares during the period. Foundry Partners LLC's holdings in Phillips 66 were worth $14,750,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of PSX. First Capital Advisors Group LLC. bought a new position in Phillips 66 during the second quarter valued at $25,000. Cornerstone Planning Group LLC increased its position in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 151 shares during the last quarter. Worth Asset Management LLC bought a new position in Phillips 66 during the first quarter valued at $32,000. Bruce G. Allen Investments LLC bought a new position in Phillips 66 during the fourth quarter valued at $36,000. Finally, Bell Investment Advisors Inc increased its position in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company's stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company's stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction dated 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 $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 0.9 %

Shares of PSX stock traded up $1.40 during mid-day trading on Friday, hitting $154.71. 2,760,769 shares of the stock traded hands, compared to its average volume of 2,202,261. The stock has a market cap of $66.19 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.92 and a beta of 1.37. The stock's fifty day moving average is $154.40 and its two-hundred day moving average is $135.63. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities analysts predict that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.97%. This is an increase from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's dividend payout ratio is 27.15%.

Analyst Ratings Changes

A number of analysts have recently issued reports on PSX shares. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research note on Thursday, April 11th. Raymond James boosted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a "buy" rating in a research note on Friday, March 22nd. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, March 15th. Finally, Piper Sandler boosted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an "overweight" rating in a research note on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $158.00.

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.

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