Pflug Koory LLC Sells 160 Shares of Phillips 66 (NYSE:PSX)

Pflug Koory LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 6.0% during the first quarter, HoldingsChannel reports. The fund owned 2,496 shares of the oil and gas company’s stock after selling 160 shares during the quarter. Pflug Koory LLC’s holdings in Phillips 66 were worth $308,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Price T Rowe Associates Inc. MD grew its position in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank bought a new stake in Phillips 66 during the 4th quarter worth $497,648,000. Raymond James Financial Inc. bought a new stake in Phillips 66 during the 4th quarter worth $168,790,000. Capitolis Liquid Global Markets LLC acquired a new position in Phillips 66 during the 4th quarter worth about $142,185,000. Finally, GAMMA Investing LLC lifted its holdings in Phillips 66 by 14,119.5% during the 1st quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock worth $146,893,000 after buying an additional 1,181,240 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. JPMorgan Chase & Co. cut their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen raised Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Barclays lifted their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. UBS Group cut their target price on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Finally, 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 report on Wednesday, April 9th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $135.46.

Phillips 66 Stock Up 0.6%

Shares of Phillips 66 stock opened at $122.20 on Monday. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50-day moving average is $109.84 and its 200 day moving average is $117.35. The firm has a market cap of $49.79 billion, a price-to-earnings ratio of 24.74, a PEG ratio of 4.84 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last announced 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). The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the company posted $1.90 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Monday, May 19th were issued a $1.20 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.93%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is presently 109.34%.

Insiders Place Their Bets

In other news, Director Robert W. Pease purchased 439 shares of the business’s stock in a transaction on Thursday, May 22nd. The shares were acquired at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the acquisition, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.