Phillips 66 (NYSE:PSX) Shares Sold by Benjamin F. Edwards & Company Inc.

Benjamin F. Edwards & Company Inc. lowered its stake in Phillips 66 (NYSE:PSX) by 1.2% during the fourth quarter, HoldingsChannel reports. The firm owned 19,679 shares of the oil and gas company’s stock after selling 238 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Phillips 66 were worth $2,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Cornerstone Planning Group LLC boosted 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 in the last quarter. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 in the 4th quarter valued at about $36,000. Bell Investment Advisors Inc lifted its holdings in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 138 shares in the last quarter. West Branch Capital LLC boosted its stake in shares of Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 91 shares during the last quarter. Finally, Headinvest LLC purchased a new stake in shares of Phillips 66 during the third quarter worth about $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought 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 in the company, valued at $278,502. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last three months. 0.22% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. Mizuho decreased their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Raymond James increased their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Finally, JPMorgan Chase & Co. upped their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $143.61 on Friday. The company has a market cap of $60.88 billion, a P/E ratio of 11.05, a PEG ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The business’s 50-day simple moving average is $155.55 and its 200 day simple moving average is $138.03.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the previous year, the business posted $4.21 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 13.17 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. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.20%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

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.