Tortoise Capital Advisors L.L.C. Sells 6,119 Shares of Phillips 66 $PSX

Tortoise Capital Advisors L.L.C. cut its stake in shares of Phillips 66 (NYSE:PSX) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,584 shares of the oil and gas company’s stock after selling 6,119 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Phillips 66 were worth $14,141,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oppenheimer & Co. Inc. increased its position in shares of Phillips 66 by 57.4% during the third quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after acquiring an additional 20,742 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock valued at $28,523,000 after purchasing an additional 10,000 shares during the last quarter. First National Bank of Omaha bought a new stake in Phillips 66 during the 3rd quarter worth approximately $2,357,000. TD Asset Management Inc raised its stake in shares of Phillips 66 by 15.5% in the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock worth $23,724,000 after purchasing an additional 23,364 shares during the last quarter. Finally, Caprock Group LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $2,412,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 16,856 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,923 shares of company stock worth $16,399,619 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSX shares. Barclays upped their price target on Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 8th. Wall Street Zen cut shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 11th. JPMorgan Chase & Co. increased their price objective on shares of Phillips 66 from $161.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Raymond James Financial boosted their target price on Phillips 66 from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Finally, BMO Capital Markets upped their target price on Phillips 66 from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Eleven research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $180.72.

Phillips 66 Stock Up 0.3%

PSX opened at $156.17 on Tuesday. Phillips 66 has a twelve month low of $98.45 and a twelve month high of $190.61. The company’s 50-day moving average price is $166.51 and its two-hundred day moving average price is $147.32. The stock has a market cap of $62.58 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.28 and a beta of 0.76. The company has a quick ratio of 0.91, a current ratio of 1.30 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. During the same quarter in the previous year, the firm posted ($0.15) EPS. As a group, equities analysts expect that Phillips 66 will post 13.37 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s dividend payout ratio is currently 46.95%.

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.