Los Angeles Capital Management LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Los Angeles Capital Management LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 48.7% during the 4th quarter, Holdings Channel reports. The fund owned 225,909 shares of the oil and gas company’s stock after selling 214,222 shares during the period. Los Angeles Capital Management LLC’s holdings in Phillips 66 were worth $30,078,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC increased its position in shares of Phillips 66 by 3,825.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 1,683 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in Phillips 66 by 78.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 237,097 shares of the oil and gas company’s stock valued at $28,487,000 after acquiring an additional 104,510 shares during the last quarter. Raymond James & Associates grew its position in Phillips 66 by 0.5% in the 3rd quarter. Raymond James & Associates now owns 664,803 shares of the oil and gas company’s stock valued at $79,876,000 after acquiring an additional 3,386 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Phillips 66 by 1.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 22,124 shares of the oil and gas company’s stock valued at $2,658,000 after acquiring an additional 318 shares during the last quarter. Finally, Independent Advisor Alliance grew its position in Phillips 66 by 72.0% in the 3rd quarter. Independent Advisor Alliance now owns 30,753 shares of the oil and gas company’s stock valued at $3,695,000 after acquiring an additional 12,877 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PSX shares. Citigroup started coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating on the stock. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Barclays dropped their price target on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Raymond James increased their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Finally, Piper Sandler increased their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total transaction of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock traded down $0.26 during mid-day trading on Friday, reaching $143.61. The stock had a trading volume of 1,804,654 shares, compared to its average volume of 2,957,052. The business’s fifty day moving average is $155.62 and its 200-day moving average is $137.81. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The firm has a market cap of $60.88 billion, a price-to-earnings ratio of 11.05, a PEG ratio of 1.77 and a beta of 1.41. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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). The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company posted $4.21 earnings per share. On average, research analysts forecast that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio is currently 32.31%.

About Phillips 66

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.