Phillips 66 (NYSE:PSX) Shares Sold by Spire Wealth Management

Spire Wealth Management lessened its holdings in Phillips 66 (NYSE:PSX) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,189 shares of the oil and gas company’s stock after selling 639 shares during the quarter. Spire Wealth Management’s holdings in Phillips 66 were worth $1,444,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC purchased a new position in Phillips 66 in the 4th quarter valued at approximately $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 during the third quarter worth $247,000. First Dallas Securities Inc. purchased a new stake in Phillips 66 during the third quarter worth $753,000. Finally, TIAA Trust National Association increased its position in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after buying an additional 3,670 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSX. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. The Goldman Sachs Group lifted their price target 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. Finally, Barclays cut their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Phillips 66 Price Performance

NYSE PSX opened at $144.00 on Wednesday. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The firm’s 50 day moving average is $155.48 and its 200-day moving average is $138.78. The company has a market capitalization of $61.05 billion, a PE ratio of 11.17, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the firm posted $4.21 EPS. Equities research analysts anticipate that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.19%. Phillips 66’s payout ratio is currently 32.31%.

Insider Activity

In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s 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 sale, 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 accessible through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction 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 transaction, the executive vice president now 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 can be accessed through this link. Also, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was 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 in the company, valued at $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company 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.