Los Angeles Capital Management LLC Sells 214,222 Shares of Phillips 66 (NYSE:PSX)

Los Angeles Capital Management LLC lessened its holdings in Phillips 66 (NYSE:PSX - Free Report) by 48.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,909 shares of the oil and gas company's stock after selling 214,222 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Phillips 66 worth $30,078,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PSX. Cardinal Capital Management raised its holdings in Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company's stock worth $3,104,000 after purchasing an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC raised its holdings in Phillips 66 by 3.6% during the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company's stock worth $312,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Phillips 66 by 3.9% during the 4th quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company's stock worth $302,000 after purchasing an additional 85 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company's stock worth $865,000 after purchasing an additional 86 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in shares of Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company's stock valued at $2,958,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PSX. JPMorgan Chase & Co. lifted their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the company an "overweight" rating in a research note on Monday, April 1st. 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 research note on Thursday, February 1st. The Goldman Sachs Group lifted their price objective 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. Mizuho reduced their price target on shares of Phillips 66 from $167.00 to $162.00 and set a "neutral" rating for the company in a research report on Friday, April 12th. Finally, Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a "sector outperform" rating in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $157.43.

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.26 during mid-day trading on Friday, reaching $143.61. 1,804,654 shares of the company's stock were exchanged, compared to its average volume of 2,957,052. The firm has a market capitalization of $60.88 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.77 and a beta of 1.41. 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 0.58, a current ratio of 1.17 and a quick ratio of 1.02. The firm has a 50-day moving average price of $155.62 and a two-hundred day moving average price of $137.81.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Analysts predict that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Phillips 66's previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66's payout ratio is presently 32.31%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company's stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. Company insiders own 0.22% of the company's stock.

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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