Phillips 66 (NYSE:PSX) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 9.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,703 shares of the oil and gas company’s stock after selling 2,168 shares during the quarter. Metis Global Partners LLC’s holdings in Phillips 66 were worth $2,890,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC acquired a new position in shares of Phillips 66 in the fourth quarter worth about $33,000. Cornerstone Planning Group LLC boosted its stake in 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 during the period. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 during the 4th quarter worth approximately $36,000. West Branch Capital LLC raised its stake 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 purchasing an additional 91 shares during the period. Finally, Bell Investment Advisors Inc lifted its holdings in shares of 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 purchasing an additional 138 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.1 %

NYSE:PSX traded up $1.51 on Monday, reaching $145.12. The company’s stock had a trading volume of 2,229,519 shares, compared to its average volume of 2,948,691. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business’s 50-day moving average price is $155.55 and its two-hundred day moving average price is $138.35. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The firm has a market cap of $61.52 billion, a PE ratio of 11.05, a PEG ratio of 1.82 and a beta of 1.41.

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 analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm posted $4.21 EPS. Equities research analysts anticipate that Phillips 66 will post 13.17 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. Shareholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is presently 32.31%.

Wall Street Analyst Weigh In

PSX has been the subject of several research analyst reports. Raymond James increased their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Mizuho reduced their price target 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. Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, Scotiabank lifted their price objective on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Insider Activity

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s 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 owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. Insiders own 0.22% of the company’s stock.

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.