Hi Line Capital Management LLC Has $13.76 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Hi Line Capital Management LLC lessened its position in Phillips 66 (NYSE:PSX) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,340 shares of the oil and gas company’s stock after selling 9,701 shares during the period. Phillips 66 makes up 5.3% of Hi Line Capital Management LLC’s holdings, making the stock its 5th largest position. Hi Line Capital Management LLC’s holdings in Phillips 66 were worth $13,759,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PSX. Cornerstone Planning Group LLC grew its holdings in shares of Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $33,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the 4th quarter worth about $36,000. Bell Investment Advisors Inc raised its holdings in Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the period. Finally, West Branch Capital LLC raised its holdings in Phillips 66 by 49.5% during the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.8 %

PSX stock opened at $148.18 on Thursday. The stock has a market capitalization of $62.82 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company has a 50-day moving average of $155.48 and a two-hundred day moving average of $138.78. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $35.87 billion. During the same quarter in the previous year, the company earned $4.21 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 3.10%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 32.31%.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $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 corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PSX. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Bank of America raised their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Mizuho reduced their price target 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 research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 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.