Stolper Co Reduces Holdings in Phillips 66 (NYSE:PSX)

Stolper Co trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,147 shares of the oil and gas company’s stock after selling 137 shares during the quarter. Phillips 66 makes up about 1.9% of Stolper Co’s investment portfolio, making the stock its 21st largest holding. Stolper Co’s holdings in Phillips 66 were worth $5,698,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after purchasing an additional 4,455,220 shares in the last quarter. Norges Bank purchased a new position in Phillips 66 during the fourth quarter valued at $497,648,000. Raymond James Financial Inc. bought a new stake in Phillips 66 during the fourth quarter valued at about $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in Phillips 66 in the fourth quarter worth about $142,185,000. Finally, GAMMA Investing LLC increased its position in Phillips 66 by 14,119.5% in the first quarter. GAMMA Investing LLC now owns 1,189,606 shares of the oil and gas company’s stock worth $146,893,000 after buying an additional 1,181,240 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of analyst reports. Scotiabank lowered their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. Mizuho raised their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Finally, Morgan Stanley lowered their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.62.

Phillips 66 Stock Down 1.2%

PSX opened at $113.31 on Friday. The company has a market capitalization of $46.17 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The firm has a 50-day simple moving average of $109.26 and a two-hundred day simple moving average of $118.59. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company posted $1.90 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 4.24%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio is 109.34%.

Insider Activity

In related news, Director Robert W. Pease purchased 439 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the transaction, the director now owns 4,091 shares in the company, valued at approximately $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Company 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.