Phillips 66 (NYSE:PSX) Shares Sold by SIR Capital Management L.P.

SIR Capital Management L.P. reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 17.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,119 shares of the oil and gas company's stock after selling 64,505 shares during the period. Phillips 66 makes up about 3.6% of SIR Capital Management L.P.'s holdings, making the stock its 6th largest position. SIR Capital Management L.P. owned about 0.07% of Phillips 66 worth $34,193,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Geode Capital Management LLC raised its position in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after acquiring an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Phillips 66 by 283.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock valued at $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Northern Trust Corp grew its position in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $497,648,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 3.0%

Shares of NYSE:PSX traded down $3.76 during trading on Monday, reaching $121.97. 3,769,962 shares of the stock were exchanged, compared to its average volume of 2,964,482. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm's 50-day moving average price is $111.61 and its 200 day moving average price is $119.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market cap of $49.70 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 3.94%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PSX. StockNews.com upgraded Phillips 66 from a "sell" rating to a "hold" rating in a report on Monday, April 28th. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target on the stock. in a research note on Thursday, March 27th. TD Cowen upped their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Scotiabank decreased their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Raymond James lowered their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $137.86.

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.