Kapitalo Investimentos Ltda Sells 340 Shares of Phillips 66 (NYSE:PSX)

Kapitalo Investimentos Ltda trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 8.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,648 shares of the oil and gas company’s stock after selling 340 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Phillips 66 were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Phillips 66 during the fourth quarter valued at $559,435,000. Boston Partners increased its position in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after acquiring an additional 3,494,878 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in Phillips 66 during the fourth quarter valued at $254,336,000. Wellington Management Group LLP grew its holdings in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in Phillips 66 by 4,556.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after purchasing an additional 932,552 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PSX shares. Piper Sandler dropped their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Wells Fargo & Company upped their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Scotiabank upped their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Barclays reduced their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 30th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.57.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $135.85 on Wednesday. The company’s fifty day moving average price is $146.23 and its 200 day moving average price is $144.11. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a market capitalization of $57.59 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17.

Phillips 66 (NYSE:PSX) last issued 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 during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter last year, the company earned $4.21 earnings per share. On average, research analysts predict that Phillips 66 will post 11.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Phillips 66 Company 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.