Hi Line Capital Management LLC Has $13.76 Million Stake in Phillips 66 (NYSE:PSX)

Hi Line Capital Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 8.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,340 shares of the oil and gas company’s stock after selling 9,701 shares during the quarter. Phillips 66 comprises about 5.3% of Hi Line Capital Management LLC’s portfolio, making the stock its 5th biggest position. Hi Line Capital Management LLC’s holdings in Phillips 66 were worth $13,759,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC raised its holdings in shares of Phillips 66 by 134.8% during the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares during the period. Signature Resources Capital Management LLC bought a new stake in Phillips 66 in the 4th quarter valued at about $33,000. Bruce G. Allen Investments LLC acquired a new position in Phillips 66 during the 4th quarter worth approximately $36,000. 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 worth $37,000 after acquiring an additional 138 shares in the last quarter. Finally, West Branch Capital LLC grew its stake in Phillips 66 by 49.5% in 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 during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PSX shares. Citigroup assumed coverage on Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating on the stock. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday. Barclays decreased their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Finally, Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Price Performance

Phillips 66 stock opened at $148.18 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The firm has a market capitalization of $62.82 billion, a P/E ratio of 11.30, a PEG ratio of 1.82 and a beta of 1.41. The business has a fifty day moving average price of $155.48 and a 200-day moving average price of $138.78.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 19.19%. The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same period in the previous year, the firm earned $4.21 EPS. As a group, equities research analysts forecast that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.10%. 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 is 32.31%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related 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 value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the company’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 completion of 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. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last three months. 0.22% of the stock is currently owned by corporate insiders.

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.