Phillips 66 (NYSE:PSX) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC decreased its position in Phillips 66 (NYSE:PSX) by 47.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,548 shares of the oil and gas company’s stock after selling 1,415 shares during the quarter. Financial Partners Group LLC’s holdings in Phillips 66 were worth $253,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth $559,435,000. Boston Partners raised its stake in Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock worth $513,327,000 after acquiring an additional 3,494,878 shares during the period. International Assets Investment Management LLC bought a new position in Phillips 66 in the fourth quarter worth about $254,336,000. Wellington Management Group LLP boosted its stake in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after acquiring an additional 1,842,226 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its holdings in shares of Phillips 66 by 4,556.1% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 953,020 shares of the oil and gas company’s stock valued at $126,885,000 after purchasing an additional 932,552 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated 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 transaction, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock traded up $1.77 during trading hours on Friday, hitting $141.17. 10,211,532 shares of the stock traded hands, compared to its average volume of 2,338,853. The stock has a 50-day simple moving average of $142.91 and a 200 day simple moving average of $144.83. The company has a market cap of $59.85 billion, a P/E ratio of 10.86, a P/E/G ratio of 2.12 and a beta of 1.37. Phillips 66 has a one year low of $93.40 and a one year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter last year, the business posted $4.21 EPS. Equities analysts forecast that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Argus reissued a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a report on Thursday, May 30th. Piper Sandler lowered their price target on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a research report on Friday, June 14th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. upped their target price 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. Finally, Bank of America lifted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a 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 MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $157.79.

About Phillips 66

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.