Phillips 66 $PSX Stock Position Lessened by Adams Natural Resources Fund Inc.

Adams Natural Resources Fund Inc. lowered its position in Phillips 66 (NYSE:PSX) by 2.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 155,475 shares of the oil and gas company’s stock after selling 4,000 shares during the quarter. Phillips 66 comprises approximately 3.0% of Adams Natural Resources Fund Inc.’s investment portfolio, making the stock its 6th largest holding. Adams Natural Resources Fund Inc.’s holdings in Phillips 66 were worth $20,062,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its position in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock worth $1,166,000 after purchasing an additional 7,214 shares during the last quarter. Woodline Partners LP lifted its stake in Phillips 66 by 40.7% during the 1st quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company’s stock valued at $4,308,000 after acquiring an additional 10,089 shares during the period. Sei Investments Co. lifted its stake in shares of Phillips 66 by 28.3% in the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company’s stock valued at $18,788,000 after purchasing an additional 34,698 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Phillips 66 by 9.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company’s stock valued at $41,359,000 after purchasing an additional 28,988 shares during the period. Finally, Glenview Trust co lifted its stake in shares of Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company’s stock valued at $1,068,000 after purchasing an additional 229 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Citigroup boosted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Raymond James Financial boosted their price target on shares of Phillips 66 from $215.00 to $218.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.33.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was purchased at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,629 shares of company stock valued at $8,071,540 in the last three months. 0.40% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $179.27 on Friday. The firm has a 50-day simple moving average of $172.49 and a 200-day simple moving average of $157.75. The stock has a market capitalization of $71.87 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 0.26 and a beta of 0.68. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a 52 week low of $118.00 and a 52 week high of $190.61.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business earned ($0.90) earnings per share. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that Phillips 66 will post 17.95 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.8%. Phillips 66’s dividend payout ratio is currently 50.05%.

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.