Affinity Investment Advisors LLC Sells 386 Shares of Phillips 66 (NYSE:PSX)

Affinity Investment Advisors LLC decreased its position in Phillips 66 (NYSE:PSX) by 12.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,728 shares of the oil and gas company’s stock after selling 386 shares during the period. Affinity Investment Advisors LLC’s holdings in Phillips 66 were worth $363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First United Bank & Trust bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $31,000. Signature Resources Capital Management LLC bought a new stake in Phillips 66 in the fourth quarter valued at $33,000. Cornerstone Planning Group LLC boosted its holdings in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Phillips 66 in the fourth quarter valued at $36,000. Finally, Gladius Capital Management LP bought a new stake in Phillips 66 in the fourth quarter valued at $36,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX stock traded down $1.10 during midday trading on Wednesday, hitting $143.04. The company’s stock had a trading volume of 1,177,337 shares, compared to its average volume of 2,823,685. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $60.64 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. The company has a 50 day moving average of $155.37 and a two-hundred day moving average of $141.06.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 earnings per share. On average, analysts expect that Phillips 66 will post 12.26 EPS for the current year.

Phillips 66 Increases Dividend

The company 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 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 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was 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 approximately $1,036,164.20. The transaction was disclosed in a filing 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 stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of 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. In the last ninety days, insiders sold 50,864 shares of company stock worth $7,567,178. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on PSX. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Raymond James lifted their price target 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 issued a “buy” rating for the company. Barclays decreased their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 30th. Finally, Bank of America boosted 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.21.

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.