Phillips 66 (NYSE:PSX) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 7.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 495,213 shares of the oil and gas company's stock after selling 42,293 shares during the period. Phillips 66 makes up 2.5% of Stonegate Investment Group LLC's holdings, making the stock its 13th biggest holding. Stonegate Investment Group LLC owned approximately 0.12% of Phillips 66 worth $80,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $27,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $28,000. First United Bank & Trust acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC grew its holdings in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company's stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. Finally, Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $33,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX stock traded down $8.45 during mid-day trading on Tuesday, hitting $143.09. 3,763,921 shares of the stock were exchanged, compared to its average volume of 2,983,768. The stock's fifty day simple moving average is $155.74 and its two-hundred day simple moving average is $137.75. The stock has a market capitalization of $61.22 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.83 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analysts' expectations of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the previous year, the business posted $4.21 EPS. On average, analysts forecast that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.21%. Phillips 66's dividend payout ratio (DPR) is presently 32.31%.

Insiders Place Their Bets

In other news, Director Robert W. Pease acquired 682 shares of the company's stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robert W. Pease purchased 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm's stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PSX shares. Raymond James lifted their price objective 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 started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a "buy" rating for the company. Scotiabank lifted their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a report on Thursday, April 11th. Mizuho dropped their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a "neutral" rating for the company in a report on Friday, April 12th. Finally, The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a "buy" rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $157.43.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.