Phillips 66 $PSX Shares Sold by Davis R M Inc.

Davis R M Inc. cut its stake in Phillips 66 (NYSE:PSX) by 1.7% in the third quarter, Holdings Channel reports. The fund owned 335,625 shares of the oil and gas company’s stock after selling 5,723 shares during the period. Davis R M Inc.’s holdings in Phillips 66 were worth $45,652,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mesirow Financial Investment Management Inc. grew its holdings in shares of Phillips 66 by 0.5% in the third quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock valued at $2,130,000 after purchasing an additional 73 shares during the period. Heck Capital Advisors LLC grew its stake in shares of Phillips 66 by 1.2% in 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 buying an additional 75 shares during the period. Portside Wealth Group LLC grew its stake in shares of Phillips 66 by 3.8% in the 3rd quarter. Portside Wealth Group LLC now owns 2,033 shares of the oil and gas company’s stock valued at $277,000 after buying an additional 75 shares during the period. Welch & Forbes LLC increased its holdings in shares of Phillips 66 by 1.1% during the 3rd 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 last quarter. Finally, Magnus Financial Group LLC raised its position in shares of Phillips 66 by 2.5% during the 3rd quarter. Magnus Financial Group LLC now owns 3,160 shares of the oil and gas company’s stock valued at $430,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $153.91 on Monday. The stock’s 50-day moving average price is $144.05 and its 200 day moving average price is $137.37. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $163.79. The firm has a market cap of $61.68 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 0.54 and a beta of 0.86. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (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 analyst estimates of $33.81 billion. During the same period in the prior year, the firm earned ($0.15) earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd will be given a $1.27 dividend. The ex-dividend date of this dividend is Monday, February 23rd. This represents a $5.08 annualized dividend and a yield of 3.3%. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s dividend payout ratio is 46.95%.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Don Baldridge sold 7,500 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares in the company, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 16,288 shares of company stock valued at $2,496,230. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. UBS Group reiterated a “buy” rating and issued a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $158.00 price target on shares of Phillips 66 in a research note on Friday, February 20th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating for the company in a research report on Tuesday, January 13th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $164.00 and gave the company a “neutral” rating in a report on Thursday, January 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Phillips 66 in a research report on Friday, February 6th. Eleven research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $160.11.

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.