Harbor Investment Advisory LLC Sells 566 Shares of Phillips 66 (NYSE:PSX)

Harbor Investment Advisory LLC lessened its stake in Phillips 66 (NYSE:PSX) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,391 shares of the oil and gas company’s stock after selling 566 shares during the period. Harbor Investment Advisory LLC’s holdings in Phillips 66 were worth $881,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PSX. WINTON GROUP Ltd bought a new position in Phillips 66 during the third quarter worth about $205,000. Fuller & Thaler Asset Management Inc. raised its stake in shares of Phillips 66 by 6.7% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,601 shares of the oil and gas company’s stock valued at $192,000 after acquiring an additional 100 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Phillips 66 by 2.2% in the third quarter. Stifel Financial Corp now owns 451,483 shares of the oil and gas company’s stock valued at $54,248,000 after acquiring an additional 9,810 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Phillips 66 by 14.8% in the third quarter. Federated Hermes Inc. now owns 74,805 shares of the oil and gas company’s stock valued at $8,988,000 after acquiring an additional 9,636 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its stake in shares of Phillips 66 by 11.6% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,084 shares of the oil and gas company’s stock valued at $1,692,000 after acquiring an additional 1,460 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PSX shares. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Raymond James cut their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Barclays lowered their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Bank of America raised their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Insiders Place Their Bets

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’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 sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Trading Up 0.3 %

PSX opened at $138.48 on Tuesday. The stock has a market capitalization of $58.71 billion, a P/E ratio of 10.65, a P/E/G ratio of 1.95 and a beta of 1.37. Phillips 66 has a 12 month low of $90.86 and a 12 month high of $174.08. The firm’s fifty day simple moving average is $144.16 and its 200 day simple moving average is $144.43. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the firm posted $4.21 earnings per share. As a group, research analysts anticipate 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. Shareholders of record on Monday, May 20th were given a dividend of $1.15 per share. The ex-dividend date was Friday, May 17th. 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 3.32%. Phillips 66’s payout ratio is 35.38%.

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.