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

&Partners decreased its position in shares of Phillips 66 (NYSE:PSX) by 26.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of 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 acquiring an additional 1,842,226 shares during the period. Morgan Stanley lifted its holdings in Phillips 66 by 2.1% in the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares during the period. Northern Trust Corp lifted its holdings in Phillips 66 by 6.2% in the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after purchasing an additional 283,010 shares during the period. Norges Bank acquired a new stake in Phillips 66 in the fourth quarter worth about $559,435,000. Finally, Boston Partners lifted its holdings in Phillips 66 by 962.0% in the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after purchasing an additional 3,494,878 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Mizuho reduced their price objective on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday. TD Cowen reduced their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a report on Friday. Argus reaffirmed 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 target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Finally, Piper Sandler cut their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Activity

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

Phillips 66 Price Performance

NYSE PSX opened at $138.09 on Monday. The stock’s 50-day moving average price is $144.60 and its two-hundred day moving average price is $144.33. 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 company has a market cap of $58.54 billion, a PE ratio of 10.62, a PEG ratio of 1.95 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

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

Phillips 66 Increases Dividend

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

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.