North Star Asset Management Inc. Decreases Stock Position in Phillips 66 (NYSE:PSX)

North Star Asset Management Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,044 shares of the oil and gas company’s stock after selling 85 shares during the period. North Star Asset Management Inc.’s holdings in Phillips 66 were worth $272,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $36,000. West Branch Capital LLC raised its holdings in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares in the last quarter. Finally, Headinvest LLC bought a new position in Phillips 66 in the third quarter worth about $51,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.5 %

Shares of NYSE PSX opened at $157.05 on Tuesday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm’s 50 day moving average price is $154.65 and its 200-day moving average price is $135.96. The company has a market cap of $67.19 billion, a PE ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, equities research analysts expect that Phillips 66 will post 13.45 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is currently 27.15%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Barclays upped their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Raymond James raised their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Piper Sandler boosted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Finally, The Goldman Sachs Group increased their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.00.

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.