Doheny Asset Management CA Sells 100 Shares of Phillips 66 (NYSE:PSX)

Doheny Asset Management CA reduced its position in Phillips 66 (NYSE:PSX) by 1.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,689 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Doheny Asset Management CA’s holdings in Phillips 66 were worth $757,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in shares of 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 during the period. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. Finally, Headinvest LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $51,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX stock traded up $4.18 during trading hours on Thursday, hitting $144.39. 1,281,800 shares of the company’s stock were exchanged, compared to its average volume of 2,957,595. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The business’s 50 day simple moving average is $155.67 and its 200-day simple moving average is $137.76. The company has a market capitalization of $61.21 billion, a PE ratio of 10.78, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its earnings results 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the firm earned $4.21 earnings per share. On average, equities research analysts anticipate that Phillips 66 will post 13.13 earnings per share for the current year.

Phillips 66 Increases Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PSX. Raymond James lifted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. The Goldman Sachs Group lifted their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, Mizuho dropped their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.43.

Insider Buying and Selling

In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 directly owns 24,941 shares in the company, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last three months. 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.