Shufro Rose & Co. LLC Cuts Stock Position in Phillips 66 (NYSE:PSX)

Shufro Rose & Co. LLC reduced its position in Phillips 66 (NYSE:PSX) by 11.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,949 shares of the oil and gas company’s stock after selling 250 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Phillips 66 were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its holdings in shares of Phillips 66 by 134.8% in the 3rd 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 in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter valued at about $36,000. Bell Investment Advisors Inc boosted its holdings in Phillips 66 by 82.1% during the 3rd 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 during the period. West Branch Capital LLC boosted its holdings in Phillips 66 by 49.5% during the 4th 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 during the period. Finally, Headinvest LLC purchased a new stake in Phillips 66 during the 3rd quarter valued at about $51,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 0.1 %

Shares of NYSE:PSX opened at $151.51 on Monday. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The firm has a market capitalization of $64.82 billion, a P/E ratio of 11.65, a P/E/G ratio of 1.83 and a beta of 1.37. The stock has a 50 day moving average price of $155.55 and a 200-day moving average price of $137.23. 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 posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period last year, the business earned $4.21 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed 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. This represents a $4.60 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’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 owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group increased their target price on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler increased their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. Citigroup initiated coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, Barclays increased their price objective on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

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.