Phillips 66 (NYSE:PSX) Shares Sold by Cadinha & Co. LLC

Cadinha & Co. LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 7.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,720 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Cadinha & Co. LLC’s holdings in Phillips 66 were worth $459,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $25,000. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $27,000. Stephens Consulting LLC grew its stake in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares in the last quarter. Finally, Graney & King LLC acquired a new stake in Phillips 66 during the 4th quarter valued at approximately $28,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on PSX shares. Raymond James cut their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. TD Cowen boosted their price objective on Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. UBS Group dropped their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Insiders Place Their Bets

In related news, Director Robert W. Pease acquired 439 shares of the business’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $114.80 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $46.77 billion, a PE ratio of 23.24, a P/E/G ratio of 4.84 and a beta of 1.01. The stock has a 50-day simple moving average of $109.50 and a 200 day simple moving average of $118.69.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.18%. Phillips 66’s dividend payout ratio is currently 109.34%.

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.