Phillips 66 $PSX Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 5.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 68,720 shares of the oil and gas company’s stock after selling 4,000 shares during the period. Sterling Capital Management LLC’s holdings in Phillips 66 were worth $12,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $26,000. Accordant Advisory Group Inc boosted its stake in shares of Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. SWAN Capital LLC grew its holdings in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $27,000. Finally, Stephens Consulting LLC raised its position in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 90 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold 45,629 shares of company stock valued at $8,071,540 over the last 90 days. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Stock Up 0.0%

Shares of PSX opened at $171.84 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12 month low of $118.00 and a 12 month high of $190.61. The stock’s 50 day moving average is $172.94 and its two-hundred day moving average is $160.01. The firm has a market cap of $68.90 billion, a P/E ratio of 16.93, a PEG ratio of 0.24 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the business earned ($0.90) earnings per share. The business’s revenue was up 6.9% compared to the same quarter last year. Analysts predict that Phillips 66 will post 18.22 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. TD Cowen boosted their price target on Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. UBS Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Phillips 66 in a research note on Monday, June 15th. Citigroup lifted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a report on Thursday, April 9th. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Finally, Morgan Stanley increased their price target on shares of Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.33.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.