Phillips 66 $PSX Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP reduced its holdings in Phillips 66 (NYSE:PSX) by 36.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,587 shares of the oil and gas company’s stock after selling 3,246 shares during the period. Stevens Capital Management LP’s holdings in Phillips 66 were worth $721,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Board of the Pension Protection Fund acquired a new stake in Phillips 66 during the 4th quarter worth about $26,000. Accordant Advisory Group Inc lifted its holdings in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new stake in shares of Phillips 66 in the fourth quarter worth about $27,000. Stephens Consulting LLC grew its holdings 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 worth $29,000 after acquiring an additional 90 shares during the period. Finally, Dorato Capital Management purchased a new position in Phillips 66 during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director directly owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $168.22, for a total transaction of $2,835,516.32. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $16,380,590.72. This trade represents a 14.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 91,529 shares of company stock valued at $15,740,519 in the last three months. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 1.0%

Shares of PSX opened at $180.26 on Wednesday. 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 $104.83 and a 12 month high of $190.61. The stock’s 50 day moving average is $168.18 and its two-hundred day moving average is $149.62. The firm has a market cap of $72.27 billion, a P/E ratio of 17.76, a PEG ratio of 0.28 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $35.86 billion. During the same period in the prior year, the company posted ($0.90) EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts predict that Phillips 66 will post 16.76 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PSX. The Goldman Sachs Group boosted their price target on Phillips 66 from $186.00 to $192.00 and gave the company a “neutral” rating in a report on Friday, April 10th. BMO Capital Markets lifted their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday. UBS Group increased their price target on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Barclays raised their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.50.

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.