Telemus Capital LLC Trims Stake in Phillips 66 (NYSE:PSX)

Telemus Capital LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 2.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,059 shares of the oil and gas company’s stock after selling 364 shares during the quarter. Telemus Capital LLC’s holdings in Phillips 66 were worth $2,138,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Legacy Capital Wealth Partners LLC bought a new stake in Phillips 66 during the third quarter valued at approximately $228,000. Bard Financial Services Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter worth $201,000. Naples Global Advisors LLC bought a new stake in shares of Phillips 66 during the 3rd quarter worth $224,000. Impact Partnership Wealth LLC grew its position in Phillips 66 by 128.5% in the third quarter. Impact Partnership Wealth LLC now owns 7,946 shares of the oil and gas company’s stock worth $955,000 after acquiring an additional 4,468 shares in the last quarter. Finally, Somerset Trust Co increased its stake in Phillips 66 by 1.7% in the third quarter. Somerset Trust Co now owns 20,422 shares of the oil and gas company’s stock valued at $2,454,000 after acquiring an additional 337 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In related news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock valued at $5,272,681. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Mizuho reduced their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Barclays upped their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday. Citigroup started coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Finally, Raymond James boosted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Trading Up 1.5 %

PSX traded up $2.28 during midday trading on Monday, reaching $156.99. 509,329 shares of the company’s stock traded hands, compared to its average volume of 2,979,069. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a fifty day moving average of $154.40 and a two-hundred day moving average of $135.63. The stock has a market capitalization of $67.16 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to the consensus estimate of $34.30 billion. On average, equities analysts anticipate that Phillips 66 will post 13.45 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 2.93%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 27.15%.

Phillips 66 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.