FourThought Financial Partners LLC Has $11.29 Million Holdings in Phillips 66 (NYSE:PSX)

FourThought Financial Partners LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 84,803 shares of the oil and gas company’s stock after selling 1,022 shares during the quarter. Phillips 66 makes up approximately 1.4% of FourThought Financial Partners LLC’s holdings, making the stock its 19th biggest holding. FourThought Financial Partners LLC’s holdings in Phillips 66 were worth $11,291,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Forte Capital LLC ADV acquired a new stake in Phillips 66 during the 4th quarter worth $214,000. TCG Advisory Services LLC boosted its position in shares of Phillips 66 by 1,000.4% in the 4th quarter. TCG Advisory Services LLC now owns 107,958 shares of the oil and gas company’s stock worth $14,374,000 after purchasing an additional 98,147 shares during the last quarter. Red Cedar Investment Management LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $992,000. First National Trust Co increased its holdings in Phillips 66 by 2.3% in the fourth quarter. First National Trust Co now owns 9,274 shares of the oil and gas company’s stock valued at $1,235,000 after purchasing an additional 209 shares during the last quarter. Finally, AJOVista LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $109,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock worth $5,272,681 in the last three months. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent analyst reports. Barclays lowered their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday. Scotiabank increased their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Citigroup began coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, April 27th. Finally, Raymond James boosted their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Stock Down 0.2 %

Phillips 66 stock traded down $0.26 during midday trading on Friday, reaching $143.61. The stock had a trading volume of 1,806,203 shares, compared to its average volume of 2,353,122. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. The firm’s fifty day simple moving average is $155.55 and its 200-day simple moving average is $138.03. The stock has a market capitalization of $60.88 billion, a P/E ratio of 11.05, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the business earned $4.21 earnings per share. As a group, analysts expect that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.20%. Phillips 66’s payout ratio is 32.31%.

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.