Phillips 66 (NYSE:PSX) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. trimmed its holdings in Phillips 66 (NYSE:PSX) by 34.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 8,800 shares of the oil and gas company’s stock after selling 4,600 shares during the quarter. Twin Capital Management Inc.’s holdings in Phillips 66 were worth $1,172,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. First Capital Advisors Group LLC. acquired a new stake in Phillips 66 during the second quarter worth about $25,000. Cornerstone Planning Group LLC increased its position in Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Worth Asset Management LLC acquired a new stake in Phillips 66 during the first quarter worth about $32,000. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $36,000. Finally, Bell Investment Advisors Inc increased its position in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 138 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 2.5 %

Shares of Phillips 66 stock opened at $153.31 on Friday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a 50 day moving average of $154.22 and a 200 day moving average of $135.06. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $65.59 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.98 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, research analysts forecast that Phillips 66 will post 13.25 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho dropped their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Scotiabank raised their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 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 completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company Profile

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.