Saxon Interests Inc. Has $399,000 Stake in Phillips 66 (NYSE:PSX)

Saxon Interests Inc. trimmed its holdings in Phillips 66 (NYSE:PSX) by 34.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,443 shares of the oil and gas company’s stock after selling 1,287 shares during the period. Saxon Interests Inc.’s holdings in Phillips 66 were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ables Iannone Moore & Associates Inc. acquired a new position in Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust bought a new position in shares of Phillips 66 in the 4th quarter valued at $31,000. Rise Advisors LLC bought a new position in shares of Phillips 66 in the 1st quarter valued at $40,000. Signature Resources Capital Management LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at $33,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at $36,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PSX. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research note on Tuesday. Scotiabank increased their price target 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. Mizuho dropped their price target on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Barclays dropped their price target on Phillips 66 from $147.00 to $142.00 and set an “equal weight” rating for the company in a research note on Monday. Finally, StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.07.

Phillips 66 Price Performance

NYSE:PSX traded down $0.46 during midday trading on Tuesday, hitting $140.47. The company had a trading volume of 2,178,639 shares, compared to its average volume of 2,782,548. Phillips 66 has a 52-week low of $94.51 and a 52-week high of $174.08. The stock’s fifty day moving average price is $142.59 and its 200-day moving average price is $144.90. The company has a market capitalization of $59.55 billion, a PE ratio of 10.79, a P/E/G ratio of 2.12 and a beta of 1.34. 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 issued its quarterly earnings data 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 firm had revenue of $36.44 billion for the quarter, compared to the consensus estimate 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 last year, the company posted $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.27%. Phillips 66’s dividend payout ratio is 35.38%.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the sale, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by insiders.

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.