Praxis Investment Management Inc. Has $4.56 Million Stake in Phillips 66 $PSX

Praxis Investment Management Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 12.4% in the 1st quarter, HoldingsChannel.com reports. The fund owned 25,043 shares of the oil and gas company’s stock after selling 3,537 shares during the quarter. Praxis Investment Management Inc.’s holdings in Phillips 66 were worth $4,562,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PSX. Clifford Group LLC lifted its stake in Phillips 66 by 2.0% in the fourth quarter. Clifford Group LLC now owns 3,315 shares of the oil and gas company’s stock valued at $428,000 after buying an additional 64 shares during the period. CYBER HORNET ETFs LLC increased its stake in shares of Phillips 66 by 5.7% in the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company’s stock valued at $158,000 after acquiring an additional 66 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Phillips 66 by 2.3% in the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares during the last quarter. Johnson Financial Group Inc. raised its position in shares of Phillips 66 by 11.9% in the 4th quarter. Johnson Financial Group Inc. now owns 679 shares of the oil and gas company’s stock valued at $88,000 after acquiring an additional 72 shares during the period. Finally, L2 Asset Management LLC raised its position in shares of Phillips 66 by 4.0% in the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. The trade was a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This represents a 1.05% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.0%

Shares of Phillips 66 stock opened at $176.40 on Friday. The business’s 50 day simple moving average is $174.43 and its 200 day simple moving average is $161.15. Phillips 66 has a 52-week low of $118.07 and a 52-week high of $190.61. The firm has a market cap of $70.72 billion, a PE ratio of 17.38, a P/E/G ratio of 0.24 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same quarter in the prior year, the business posted ($0.90) EPS. The business’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 19.27 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on PSX shares. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research report on Thursday, April 9th. TD Cowen upped their price objective on shares of Phillips 66 from $213.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, June 29th. UBS Group reaffirmed a “buy” rating and set a $212.00 price objective on shares of Phillips 66 in a research note on Monday, June 15th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 13th. Finally, Wells Fargo & Company increased their price target on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Two analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.72.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.