Telos Capital Management Inc. Has $6.47 Million Holdings in Phillips 66 (NYSE:PSX)

Telos Capital Management Inc. increased its holdings in Phillips 66 (NYSE:PSX) by 2.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,415 shares of the oil and gas company’s stock after acquiring an additional 1,304 shares during the period. Telos Capital Management Inc.’s holdings in Phillips 66 were worth $6,472,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after acquiring an additional 82,758 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in 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 valued at $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp increased its stake in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after buying an additional 440,107 shares during the last quarter. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter valued at about $497,648,000. Finally, Invesco Ltd. increased its stake in Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock valued at $468,551,000 after buying an additional 347,905 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the business’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,104,750. The trade was a 14.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert W. Pease acquired 439 shares of the firm’s stock in a transaction on Thursday, May 22nd. The stock was purchased at an average price of $113.85 per share, for a total transaction of $49,980.15. Following the transaction, the director directly owned 4,091 shares of the company’s stock, valued at approximately $465,760.35. This trade represents a 12.02% increase in their position. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $130.74 on Thursday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.88 and a current ratio of 1.23. The company has a market capitalization of $53.27 billion, a P/E ratio of 29.78, a P/E/G ratio of 2.04 and a beta of 1.02. The company has a fifty day moving average of $118.36 and a 200-day moving average of $117.43.

Phillips 66 (NYSE:PSX) last issued its 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 business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 4.83% and a net margin of 1.32%. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were given a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

Wall Street Analyst Weigh In

Several research firms have commented on PSX. Wall Street Zen upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Morgan Stanley decreased their price objective on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $127.00 and gave the company an “equal weight” rating in a research note on Wednesday. Compass Point began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They issued a “buy” rating for the company. Finally, Raymond James Financial decreased their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.79.

About Phillips 66

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.