First Trust Advisors LP Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

First Trust Advisors LP decreased its position in shares of Phillips 66 (NYSE:PSXFree Report) by 18.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 867,444 shares of the oil and gas company’s stock after selling 201,474 shares during the period. First Trust Advisors LP’s holdings in Phillips 66 were worth $115,491,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Edge Capital Group LLC increased its holdings in shares of Phillips 66 by 2.2% in the 4th quarter. Edge Capital Group LLC now owns 7,605 shares of the oil and gas company’s stock worth $1,013,000 after buying an additional 167 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Phillips 66 by 6.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,680 shares of the oil and gas company’s stock valued at $8,079,000 after purchasing an additional 3,694 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in Phillips 66 by 2.6% during the 4th quarter. Peapack Gladstone Financial Corp now owns 9,525 shares of the oil and gas company’s stock valued at $1,268,000 after purchasing an additional 242 shares during the last quarter. NEOS Investment Management LLC grew its holdings in Phillips 66 by 38.8% during the 4th quarter. NEOS Investment Management LLC now owns 6,233 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 1,743 shares during the last quarter. Finally, CWA Asset Management Group LLC grew its holdings in Phillips 66 by 50.4% during the 4th quarter. CWA Asset Management Group LLC now owns 2,870 shares of the oil and gas company’s stock valued at $382,000 after purchasing an additional 962 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PSX shares. Raymond James dropped their target price on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. The Goldman Sachs Group upped their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Argus restated a “buy” rating and issued a $167.00 target price on shares of Phillips 66 in a research note on Thursday, May 30th. Barclays dropped their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.93.

View Our Latest Research Report on Phillips 66

Phillips 66 Stock Down 0.2 %

NYSE:PSX traded down $0.34 during midday trading on Wednesday, reaching $136.65. 156,671 shares of the stock traded hands, compared to its average volume of 2,766,932. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The business has a 50-day moving average of $152.08 and a two-hundred day moving average of $142.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The stock has a market capitalization of $57.93 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the company earned $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 12.16 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,864 shares of company stock valued at $7,567,178. Insiders own 0.22% of the company’s stock.

Phillips 66 Company Profile

(Free Report)

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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