Hexagon Capital Partners LLC Sells 111 Shares of Phillips 66 (NYSE:PSX)

Hexagon Capital Partners LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,863 shares of the oil and gas company’s stock after selling 111 shares during the period. Hexagon Capital Partners LLC’s holdings in Phillips 66 were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PSX. Ables Iannone Moore & Associates Inc. bought a new position in shares of Phillips 66 in the 4th quarter valued at about $27,000. First United Bank & Trust bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $31,000. Signature Resources Capital Management LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $33,000. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 in the fourth quarter worth $36,000. Finally, Gladius Capital Management LP purchased a new position in Phillips 66 during the fourth quarter worth $36,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.2 %

PSX opened at $140.93 on Tuesday. 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 firm has a market cap of $59.75 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 2.12 and a beta of 1.34. Phillips 66 has a 12 month low of $94.51 and a 12 month high of $174.08. The stock has a fifty day moving average price of $142.91 and a 200-day moving average price of $144.83.

Phillips 66 (NYSE:PSX) last announced 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the prior year, the firm posted $4.21 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 11.08 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.26%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSX. Scotiabank raised their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Piper Sandler reduced their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a research note on Friday, June 14th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Raymond James reduced their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the 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 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 is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

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.