Phillips 66 (NYSE:PSX) is Stack Financial Management Inc’s 7th Largest Position

Stack Financial Management Inc reduced its stake in shares of Phillips 66 (NYSE:PSX) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 225,551 shares of the oil and gas company’s stock after selling 3,735 shares during the quarter. Phillips 66 makes up about 3.4% of Stack Financial Management Inc’s holdings, making the stock its 7th biggest holding. Stack Financial Management Inc owned about 0.05% of Phillips 66 worth $30,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at $254,336,000. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock worth $549,156,000 after acquiring an additional 502,785 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in Phillips 66 by 41.2% in the third quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock worth $181,049,000 after purchasing an additional 439,360 shares during the period. Acadian Asset Management LLC increased its stake in shares of Phillips 66 by 1,038.3% during the third quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after purchasing an additional 430,723 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Phillips 66 by 53.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after purchasing an additional 421,714 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded down $6.22 during trading hours on Friday, reaching $151.02. 1,928,230 shares of the stock traded hands, compared to its average volume of 2,946,564. The company has a 50 day moving average price of $155.40 and a 200 day moving average price of $136.60. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $64.61 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 1.91 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.60 by ($0.70). Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the prior year, the business earned $4.21 EPS. On average, equities research analysts expect that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 3.05%. Phillips 66’s payout ratio is 27.15%.

Insider Buying and Selling at Phillips 66

In related news, Director Robert W. Pease acquired 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at $278,502. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of analyst reports. Mizuho reduced their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Scotiabank raised their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Barclays raised their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup initiated coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.