Full Sail Capital LLC decreased its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,563 shares of the oil and gas company’s stock after selling 2,956 shares during the period. Full Sail Capital LLC’s holdings in Phillips 66 were worth $787,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Hallmark Capital Management Inc. increased its position in Phillips 66 by 62.5% during the third quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after buying an additional 125 shares during the period. Align Wealth Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $28,000. MADDEN SECURITIES Corp acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Glassy Mountain Advisors Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Finally, Romano Brothers AND Company acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 70.76% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. UBS Group assumed coverage on Phillips 66 in a report on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price on the stock. Morgan Stanley boosted their target price on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, January 20th. StockNews.com lowered Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Raymond James upped their price objective on Phillips 66 from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Friday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on Phillips 66 from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, March 28th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.33.
Insider Activity
In related news, Director Gregory Hayes bought 10,250 shares of the stock in a transaction dated Thursday, February 2nd. The stock was acquired at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the completion of the purchase, the director now owns 14,299 shares in the company, valued at $1,397,727.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.57% of the company’s stock.
Phillips 66 Trading Down 0.6 %
Phillips 66 stock traded down $0.60 during trading on Wednesday, hitting $98.72. The company’s stock had a trading volume of 1,439,618 shares, compared to its average volume of 3,582,766. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 4.33, a P/E/G ratio of 0.34 and a beta of 1.38. The stock’s fifty day moving average is $100.91 and its 200 day moving average is $102.61. Phillips 66 has a 1-year low of $74.02 and a 1-year high of $113.53. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38.
Phillips 66 (NYSE:PSX – Get Rating) last released its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 EPS for the quarter, missing the consensus estimate of $4.35 by ($0.35). The business had revenue of $40.91 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same quarter in the previous year, the company posted $2.94 earnings per share. As a group, equities research analysts predict that Phillips 66 will post 15.93 EPS for the current year.
Phillips 66 Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Stockholders of record on Tuesday, February 21st were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.25%. This is a positive change from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio (DPR) is 18.30%.
Phillips 66 Profile
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.