Sentry Investment Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 8.2% during the 1st quarter, HoldingsChannel reports. The fund owned 25,472 shares of the oil and gas company’s stock after selling 2,262 shares during the quarter. Sentry Investment Management LLC’s holdings in Phillips 66 were worth $2,424,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Harvest Group Wealth Management LLC purchased a new position in Phillips 66 during the 1st quarter worth $31,000. FNY Investment Advisers LLC purchased a new position in Phillips 66 during the 4th quarter worth $37,000. Proficio Capital Partners LLC grew its position in Phillips 66 by 46.1% during the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 137 shares during the last quarter. Burt Wealth Advisors grew its position in Phillips 66 by 285.7% during the 1st quarter. Burt Wealth Advisors now owns 405 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, Truehand Inc purchased a new position in Phillips 66 during the 4th quarter worth $40,000. Hedge funds and other institutional investors own 71.83% of the company’s stock.
Shares of NYSE PSX traded up $1.17 during midday trading on Tuesday, hitting $85.69. The company had a trading volume of 47,129 shares, compared to its average volume of 2,670,509. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $123.97. The stock has a market capitalization of $38.47 billion, a price-to-earnings ratio of 7.31, a price-to-earnings-growth ratio of 1.36 and a beta of 0.91.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.06. Phillips 66 had a net margin of 4.63% and a return on equity of 19.96%. The firm had revenue of $23.66 billion during the quarter, compared to analysts’ expectations of $24.66 billion. During the same quarter last year, the business earned $1.04 earnings per share. Equities research analysts expect that Phillips 66 will post 7.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $0.90 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, May 17th. This represents a $3.60 annualized dividend and a dividend yield of 4.20%. Phillips 66’s dividend payout ratio (DPR) is 27.33%.
Several research analysts have issued reports on PSX shares. Argus lowered their price objective on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Friday, February 8th. Bank of America raised shares of Phillips 66 from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Monday, April 29th. They noted that the move was a valuation call. Morgan Stanley lowered their target price on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Jefferies Financial Group downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating and lifted their target price for the company from $105.00 to $107.00 in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $119.42.
In related news, Chairman Greg C. Garland sold 42,728 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John E. Lowe bought 2,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were acquired at an average price of $84.41 per share, with a total value of $168,820.00. The disclosure for this purchase can be found here. 0.13% of the stock is owned by company insiders.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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