Phillips 66 (NYSE:PSX) Shares Sold by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. lowered its stake in Phillips 66 (NYSE:PSX) by 1.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,801 shares of the oil and gas company’s stock after selling 541 shares during the quarter. First Fiduciary Investment Counsel Inc.’s holdings in Phillips 66 were worth $6,764,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC purchased a new position in Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors purchased a new position in Phillips 66 during the 3rd quarter worth approximately $247,000. First Dallas Securities Inc. purchased a new position in Phillips 66 during the 3rd quarter worth approximately $753,000. Finally, TIAA Trust National Association grew its position in Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last quarter. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 3.6 %

PSX stock opened at $151.52 on Friday. The firm has a market cap of $64.82 billion, a PE ratio of 9.79, a PEG ratio of 1.90 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a fifty day simple moving average of $155.55 and a 200 day simple moving average of $136.88.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same period in the prior year, the firm earned $4.21 EPS. Sell-side analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. Phillips 66’s payout ratio is currently 27.15%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSX shares. JPMorgan Chase & Co. lifted their price objective 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. Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Raymond James boosted 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. Barclays boosted their price target 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. Finally, Mizuho lowered their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

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.