MAI Capital Management Has $7.26 Million Stock Position in Phillips 66 $PSX

MAI Capital Management raised its holdings in Phillips 66 (NYSE:PSX) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 53,353 shares of the oil and gas company’s stock after acquiring an additional 5,492 shares during the quarter. MAI Capital Management’s holdings in Phillips 66 were worth $7,257,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Heck Capital Advisors LLC lifted its position in shares of Phillips 66 by 1.2% during the 3rd quarter. Heck Capital Advisors LLC now owns 6,124 shares of the oil and gas company’s stock valued at $833,000 after acquiring an additional 75 shares during the period. Portside Wealth Group LLC grew its holdings in Phillips 66 by 3.8% in the third quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock worth $277,000 after purchasing an additional 75 shares during the period. Welch & Forbes LLC increased its stake in Phillips 66 by 1.1% in the third quarter. Welch & Forbes LLC now owns 7,123 shares of the oil and gas company’s stock valued at $969,000 after purchasing an additional 76 shares in the last quarter. Magnus Financial Group LLC raised its holdings in shares of Phillips 66 by 2.5% during the third quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock valued at $430,000 after purchasing an additional 77 shares during the period. Finally, Hemington Wealth Management raised its holdings in shares of Phillips 66 by 15.7% during the third quarter. Hemington Wealth Management now owns 576 shares of the oil and gas company’s stock valued at $78,000 after purchasing an additional 78 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.3%

PSX stock opened at $152.44 on Friday. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The company has a quick ratio of 0.87, a current ratio of 1.30 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $143.55 and its 200-day moving average is $136.90. The firm has a market capitalization of $61.09 billion, a PE ratio of 14.09, a P/E/G ratio of 0.53 and a beta of 0.90.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.32. The business had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.13% and a net margin of 3.22%.During the same quarter in the prior year, the company posted ($0.15) earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio (DPR) is currently 46.95%.

Analyst Upgrades and Downgrades

PSX has been the subject of several research reports. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. UBS Group reissued a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research note on Friday, February 6th. Citigroup boosted their price objective on Phillips 66 from $146.00 to $159.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Scotiabank reaffirmed a “sector perform” rating and set a $140.00 target price on shares of Phillips 66 in a research report on Friday, January 16th. Finally, Weiss Ratings raised shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $160.11.

Insider Activity

In other news, EVP Brian Mandell sold 25,500 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $140.04, for a total value of $3,571,020.00. Following the completion of the sale, the executive vice president owned 56,838 shares in the company, valued at $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 41,788 shares of company stock worth $6,067,250 over the last quarter. Insiders own 0.22% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.