Phillips 66 (NYSE:PSX) Holdings Decreased by Strategic Advisors LLC

Strategic Advisors LLC trimmed its position in Phillips 66 (NYSE:PSX) by 1.8% in the first quarter, Holdings Channel.com reports. The fund owned 7,929 shares of the oil and gas company’s stock after selling 143 shares during the period. Strategic Advisors LLC’s holdings in Phillips 66 were worth $979,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in PSX. J.Safra Asset Management Corp bought a new position in Phillips 66 during the 4th quarter worth $25,000. Pacific Center for Financial Services bought a new position in Phillips 66 during the 4th quarter worth $27,000. Graney & King LLC bought a new position in Phillips 66 during the 4th quarter worth $28,000. Wood Tarver Financial Group LLC bought a new position in Phillips 66 during the 4th quarter worth $29,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 during the 1st quarter worth $29,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent research reports. Tudor Pickering downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 22nd. TD Cowen upped 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. Wall Street Zen upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Finally, Mizuho upped their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $135.46.

Phillips 66 Trading Up 1.2%

Shares of Phillips 66 stock opened at $123.60 on Tuesday. 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 firm has a market cap of $50.36 billion, a price-to-earnings ratio of 25.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.02. The business has a fifty day simple moving average of $110.46 and a 200-day simple moving average of $117.28. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share 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 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 company earned $1.90 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Monday, May 19th were issued a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 3.88%. Phillips 66’s dividend payout ratio is 109.34%.

Insider Activity

In related news, Director Robert W. Pease bought 439 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $113.85 per share, with a total value 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. This trade represents a 12.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.22% of the company’s stock.

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.