Phillips 66 (NYSE:PSX) Stake Cut by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. reduced its position in Phillips 66 (NYSE:PSX) by 0.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,623 shares of the oil and gas company’s stock after selling 147 shares during the quarter. Phillips 66 makes up about 1.1% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 26th largest holding. Argonautica Private Wealth Management Inc.’s holdings in Phillips 66 were worth $2,613,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in 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 purchasing an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $36,000. West Branch Capital LLC increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 91 shares during the last quarter. Bell Investment Advisors Inc increased its holdings in shares of 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 valued at $37,000 after acquiring an additional 138 shares during the last quarter. Finally, Headinvest LLC acquired a new position in shares of Phillips 66 during the 3rd quarter valued at about $51,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,035,242.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the transaction, 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. Insiders have sold a total of 35,056 shares of company stock worth $5,272,681 over the last three months. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 3.7 %

PSX stock traded down $5.83 during midday trading on Friday, hitting $151.41. 4,206,800 shares of the company’s stock were exchanged, compared to its average volume of 2,131,287. The stock’s fifty day moving average price is $155.55 and its 200-day moving average price is $136.88. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market cap of $64.78 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 1.90 and a beta of 1.37. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

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

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.04%. 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. Phillips 66’s payout ratio is 27.15%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PSX. Barclays increased their price objective on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company increased their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Piper Sandler increased their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Finally, Mizuho decreased their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.