Phillips 66 $PSX Shares Sold by Aberdeen Group plc

Aberdeen Group plc cut its position in Phillips 66 (NYSE:PSX) by 18.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,075 shares of the oil and gas company’s stock after selling 29,257 shares during the quarter. Aberdeen Group plc’s holdings in Phillips 66 were worth $17,322,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Phillips 66

In related news, 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 value of $659,100.00. Following the transaction, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. The trade was a 14.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the stock in a transaction on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at approximately $7,959,593.52. This represents a 30.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,288 shares of company stock worth $4,867,250. Corporate insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $162.00 to $163.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Citigroup increased 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. Wall Street Zen lowered Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 16th. Finally, UBS Group reissued a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a report on Friday, February 6th. Ten research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Hold” and a consensus target price of $158.72.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $157.40 on Thursday. The stock has a market cap of $63.42 billion, a P/E ratio of 14.55, a P/E/G ratio of 0.55 and a beta of 0.90. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $163.79. The stock has a 50 day moving average of $141.45 and a two-hundred day moving average of $135.60. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same period in the previous year, the company posted ($0.15) EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm 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 dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date is Monday, February 23rd. Phillips 66’s payout ratio is currently 44.36%.

About Phillips 66

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.