F&V Capital Management LLC Reduces Position in Phillips 66 (NYSE:PSX)

F&V Capital Management LLC lessened its position in Phillips 66 (NYSE:PSX) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,002 shares of the oil and gas company’s stock after selling 1,238 shares during the quarter. Phillips 66 comprises about 4.3% of F&V Capital Management LLC’s investment portfolio, making the stock its 6th biggest position. F&V Capital Management LLC’s holdings in Phillips 66 were worth $16,423,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PSX. Forum Financial Management LP increased its holdings in shares of Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company’s stock worth $853,000 after purchasing an additional 77 shares during the period. NewEdge Wealth LLC increased its holdings in shares of Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc increased its holdings in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC increased its holdings in shares of Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Finally, PFG Private Wealth Management LLC increased its holdings in shares of Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease bought 439 shares of Phillips 66 stock in a transaction dated Thursday, May 22nd. The shares were bought 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 owns 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSX. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a report on Thursday, March 27th. Mizuho lifted their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research report on Tuesday, May 13th. TD Cowen lifted their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. UBS Group decreased their target price on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, Wells Fargo & Company decreased their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $135.46.

Phillips 66 Price Performance

NYSE:PSX opened at $121.50 on Friday. The firm has a market cap of $49.50 billion, a PE ratio of 24.60, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company’s 50-day moving average price is $109.24 and its two-hundred day moving average price is $117.65.

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

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.95%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date was Monday, May 19th. Phillips 66’s dividend payout ratio is presently 109.34%.

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.