Phillips 66 (NYSE:PSX) Shares Sold by Advisory Alpha LLC

Advisory Alpha LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 10.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,593 shares of the oil and gas company’s stock after selling 301 shares during the quarter. Advisory Alpha LLC’s holdings in Phillips 66 were worth $320,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Parallel Advisors LLC lifted its holdings in shares of Phillips 66 by 6.6% in the 1st quarter. Parallel Advisors LLC now owns 10,959 shares of the oil and gas company’s stock valued at $1,353,000 after buying an additional 678 shares during the period. GAMMA Investing LLC raised its holdings in Phillips 66 by 14,119.5% during 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 purchasing an additional 1,181,240 shares during the last quarter. Exeter Financial LLC raised its holdings in Phillips 66 by 1.6% during the first quarter. Exeter Financial LLC now owns 12,940 shares of the oil and gas company’s stock worth $1,598,000 after purchasing an additional 210 shares during the last quarter. Farmers Trust Co. acquired a new position in Phillips 66 during the first quarter worth $209,000. Finally, Moody National Bank Trust Division raised its holdings in Phillips 66 by 23.2% during the first quarter. Moody National Bank Trust Division now owns 3,775 shares of the oil and gas company’s stock worth $466,000 after purchasing an additional 710 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Morgan Stanley reduced their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Scotiabank reduced their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Tudor Pickering cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 22nd. Mizuho lifted their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $135.62.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $113.31 on Friday. The company has a market cap of $46.17 billion, a P/E ratio of 22.94, a P/E/G ratio of 4.84 and a beta of 1.01. 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. The business has a fifty day simple moving average of $109.26 and a 200-day simple moving average of $118.51.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations 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 prior year, the firm earned $1.90 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

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

Insider Activity

In other Phillips 66 news, Director Robert W. Pease acquired 439 shares of the stock in a transaction dated Thursday, May 22nd. The stock was acquired at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director now directly owns 4,091 shares in the company, valued at approximately $465,760.35. This trade represents a 12.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

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.