Spirit of America Management Corp NY Lowers Position in Phillips 66 $PSX

Spirit of America Management Corp NY lessened its stake in shares of Phillips 66 (NYSE:PSX) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 49,036 shares of the oil and gas company’s stock after selling 4,450 shares during the period. Phillips 66 accounts for about 1.3% of Spirit of America Management Corp NY’s investment portfolio, making the stock its 17th biggest holding. Spirit of America Management Corp NY’s holdings in Phillips 66 were worth $6,328,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Board of the Pension Protection Fund purchased a new position in shares of Phillips 66 during the 4th quarter valued at about $26,000. Evolution Wealth Management Inc. purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $25,000. Stephens Consulting LLC raised its stake in Phillips 66 by 67.7% during the 4th 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. Winnow Wealth LLC bought a new stake in Phillips 66 during the 3rd quarter worth approximately $36,000. Finally, Wealth Watch Advisors INC purchased a new position in Phillips 66 during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.8%

Phillips 66 stock opened at $184.84 on Tuesday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $190.61. The firm’s 50 day moving average price is $160.17 and its 200-day moving average price is $143.83. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The stock has a market cap of $74.07 billion, a P/E ratio of 17.08, a PEG ratio of 0.35 and a beta of 0.86.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.32. The company had revenue of $32.16 billion during the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period last year, the company posted ($0.15) earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $1.27 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.20. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $5.08 annualized dividend and a dividend yield of 2.7%. Phillips 66’s payout ratio is currently 46.95%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. Argus increased their price objective on shares of Phillips 66 from $152.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, February 10th. Morgan Stanley lifted their target price on shares of Phillips 66 from $140.00 to $147.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Citigroup upped their target price on shares of Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. BMO Capital Markets reiterated an “outperform” rating and issued a $170.00 price target on shares of Phillips 66 in a research note on Friday, February 6th. Finally, Scotiabank raised Phillips 66 to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $164.00.

Insider Activity

In other news, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at approximately $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,394 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 84,688 shares of company stock valued at $14,066,145. 0.22% of the stock is owned by corporate insiders.

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.