Yousif Capital Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 6.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,682 shares of the oil and gas company's stock after selling 4,835 shares during the quarter. Yousif Capital Management LLC's holdings in Phillips 66 were worth $9,144,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NewSquare Capital LLC lifted its position in Phillips 66 by 1.7% in the fourth quarter. NewSquare Capital LLC now owns 48,907 shares of the oil and gas company's stock worth $6,425,000 after buying an additional 794 shares during the last quarter. Cutter & CO Brokerage Inc. lifted its position in Phillips 66 by 9.9% in the fourth quarter. Cutter & CO Brokerage Inc. now owns 2,352 shares of the oil and gas company's stock worth $313,000 after buying an additional 211 shares during the last quarter. GAMMA Investing LLC bought a new stake in Phillips 66 in the fourth quarter worth $653,000. Community Bank & Trust Waco Texas lifted its position in Phillips 66 by 76.0% in the fourth quarter. Community Bank & Trust Waco Texas now owns 30,643 shares of the oil and gas company's stock worth $4,080,000 after buying an additional 13,232 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Phillips 66 by 70.4% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,202 shares of the oil and gas company's stock worth $426,000 after buying an additional 1,323 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Phillips 66
In other news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the business's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the business's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company's stock, valued at $1,035,242.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.
Phillips 66 Stock Performance
Shares of Phillips 66 stock traded down $0.67 on Thursday, reaching $157.12. 2,617,031 shares of the stock were exchanged, compared to its average volume of 2,960,727. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market capitalization of $67.22 billion, a price-to-earnings ratio of 10.16, a PEG ratio of 1.95 and a beta of 1.37. The business has a 50 day moving average price of $155.40 and a two-hundred day moving average price of $136.60.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Analysts anticipate that Phillips 66 will post 13.59 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66's previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.93%. Phillips 66's payout ratio is presently 27.15%.
Analysts Set New Price Targets
PSX has been the subject of several research analyst reports. Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a "sector outperform" rating in a research report on Thursday, April 11th. StockNews.com lowered Phillips 66 from a "buy" rating to a "hold" rating in a research note on Thursday, April 18th. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a "neutral" rating in a research note on Friday, March 15th. Wells Fargo & Company lifted their target price on Phillips 66 from $179.00 to $191.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $158.00.
View Our Latest Report on PSX
About Phillips 66
(
Free Report)
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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