Cary Street Partners Investment Advisory LLC Has $599,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Cary Street Partners Investment Advisory LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 91.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,496 shares of the oil and gas company’s stock after selling 47,512 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Phillips 66 were worth $599,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Barclays PLC boosted its position in Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after purchasing an additional 309,239 shares during the last quarter. Morgan Stanley boosted its position in Phillips 66 by 2.1% during the third quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after purchasing an additional 138,646 shares during the last quarter. Northern Trust Corp boosted its position in Phillips 66 by 6.2% during the third quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after purchasing an additional 283,010 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Phillips 66 by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after purchasing an additional 502,785 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Phillips 66 by 21.9% during the third quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after purchasing an additional 350,211 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity

In related news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were 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 disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last quarter. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $143.09 on Wednesday. The business’s 50-day moving average price is $155.74 and its two-hundred day moving average price is $137.75. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a market capitalization of $61.22 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the business earned $4.21 EPS. Equities analysts expect that Phillips 66 will post 13.77 EPS for the current fiscal 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 issued a $1.15 dividend. This is a boost 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 annualized dividend and a dividend yield of 3.21%. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group lifted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Barclays reduced their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.