Phillips 66 (NYSE:PSX) Stock Holdings Trimmed by Stack Financial Management Inc

Stack Financial Management Inc cut its holdings in Phillips 66 (NYSE:PSX) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 225,551 shares of the oil and gas company’s stock after selling 3,735 shares during the quarter. Phillips 66 comprises 3.4% of Stack Financial Management Inc’s holdings, making the stock its 7th largest position. Stack Financial Management Inc’s holdings in Phillips 66 were worth $30,030,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Naples Global Advisors LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $224,000. Avior Wealth Management LLC lifted its holdings in shares of Phillips 66 by 15.1% during the third quarter. Avior Wealth Management LLC now owns 8,053 shares of the oil and gas company’s stock worth $968,000 after purchasing an additional 1,055 shares during the period. Cedar Brook Financial Partners LLC purchased a new stake in Phillips 66 in the third quarter valued at approximately $219,000. Newbridge Financial Services Group Inc. increased its holdings in Phillips 66 by 21.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,406 shares of the oil and gas company’s stock worth $169,000 after buying an additional 251 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Phillips 66 by 3,825.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock worth $207,000 after buying an additional 1,683 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $6.22 during midday trading on Friday, reaching $151.02. 1,928,230 shares of the company’s stock traded hands, compared to its average volume of 2,946,564. The company has a market cap of $64.61 billion, a P/E ratio of 9.70, a PEG ratio of 1.91 and a beta of 1.37. The company has a fifty day simple moving average of $155.40 and a two-hundred day simple moving average of $136.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

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 the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the previous year, the company earned $4.21 EPS. Equities analysts predict that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.05%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Analyst Ratings Changes

Several research firms have recently commented on PSX. Barclays upped their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Mizuho cut their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. JPMorgan Chase & Co. upped their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Piper Sandler lifted their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert W. Pease purchased 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% of the company’s stock.

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.