Creekmur Asset Management LLC Sells 2,886 Shares of Phillips 66 (NYSE:PSX)

Creekmur Asset Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 43.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 3,773 shares of the oil and gas company’s stock after selling 2,886 shares during the period. Creekmur Asset Management LLC’s holdings in Phillips 66 were worth $466,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSX. Cohen & Steers Inc. grew its holdings in Phillips 66 by 40.3% in the 4th quarter. Cohen & Steers Inc. now owns 91,663 shares of the oil and gas company’s stock valued at $10,443,000 after buying an additional 26,318 shares in the last quarter. Cary Street Partners Financial LLC bought a new stake in Phillips 66 in the fourth quarter worth approximately $4,333,000. Resona Asset Management Co. Ltd. acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $15,203,000. Massachusetts Financial Services Co. MA boosted its position in shares of Phillips 66 by 4.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,107,397 shares of the oil and gas company’s stock valued at $126,166,000 after buying an additional 43,238 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Phillips 66 by 20.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 158,934 shares of the oil and gas company’s stock worth $19,625,000 after purchasing an additional 26,825 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PSX. Evercore ISI assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective on the stock. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Mizuho raised their target price on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. UBS Group reduced their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $126.00 to $130.00 in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Hold” and a consensus target price of $135.27.

Phillips 66 Price Performance

Shares of PSX opened at $126.25 on Friday. The firm has a fifty day moving average price of $121.05 and a 200 day moving average price of $118.13. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.23 and a quick ratio of 0.88. The stock has a market cap of $51.44 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates 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 company posted $1.90 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.80%. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

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.