Phillips 66 (NYSE:PSX) Shares Sold by &Partners

&Partners reduced its stake in Phillips 66 (NYSE:PSX) by 26.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 4,743 shares of the oil and gas company’s stock after selling 1,687 shares during the quarter. &Partners’ holdings in Phillips 66 were worth $775,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in PSX. Norges Bank acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $559,435,000. Boston Partners lifted its holdings in shares of Phillips 66 by 962.0% in the 4th quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter worth approximately $254,336,000. Wellington Management Group LLP lifted its holdings in shares of Phillips 66 by 20.3% in the 4th quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after acquiring an additional 1,842,226 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its holdings in shares of Phillips 66 by 4,556.1% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock worth $126,885,000 after acquiring an additional 932,552 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price 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. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday. Scotiabank upped their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, TD Cowen cut their target price on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.79.

Phillips 66 Trading Up 0.1 %

Shares of Phillips 66 stock opened at $138.09 on Monday. The company has a fifty day simple moving average of $144.60 and a 200-day simple moving average of $144.33. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market cap of $58.54 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.95 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its earnings results 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). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 11.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.33%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling

In related news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on 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 owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

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.