Phillips 66 (NYSE:PSX) Shares Sold by Financial Management Professionals Inc.

Financial Management Professionals Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 39.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 770 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Financial Management Professionals Inc.’s holdings in Phillips 66 were worth $126,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Phillips 66 by 20.3% during 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 period. Morgan Stanley boosted its position in Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after acquiring an additional 138,646 shares during the period. Norges Bank acquired a new position in Phillips 66 during the 4th quarter worth $559,435,000. Boston Partners boosted its position in Phillips 66 by 962.0% during 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 period. Finally, Dimensional Fund Advisors LP boosted its position in Phillips 66 by 9.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,702,734 shares of the oil and gas company’s stock worth $492,974,000 after acquiring an additional 315,889 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.3 %

NYSE:PSX opened at $141.17 on Friday. The firm has a market capitalization of $59.85 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.37. Phillips 66 has a 1-year low of $93.40 and a 1-year 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 business’s fifty day moving average price is $142.91 and its 200 day moving average price is $144.70.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for 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 period in the previous year, the firm posted $4.21 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 11.08 earnings per share 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 given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.26%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is presently 35.38%.

Insider Activity at Phillips 66

In related news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Argus restated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Scotiabank upped their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Finally, Piper Sandler cut their price objective on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $157.79.

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.