OLD Republic International Corp Sells 155,300 Shares of Phillips 66 (NYSE:PSX)

OLD Republic International Corp decreased its stake in Phillips 66 (NYSE:PSX) by 35.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 280,600 shares of the oil and gas company’s stock after selling 155,300 shares during the period. OLD Republic International Corp’s holdings in Phillips 66 were worth $37,359,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its stake in shares of Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its position in Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 82 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in Phillips 66 by 3.9% in the 4th quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock valued at $302,000 after acquiring an additional 85 shares in the last quarter. Cornerstone Wealth Management LLC boosted its position in Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after acquiring an additional 86 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC boosted its holdings in Phillips 66 by 2.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,186 shares of the oil and gas company’s stock worth $557,000 after purchasing an additional 89 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock traded down $1.87 on Friday, hitting $145.85. The company’s stock had a trading volume of 514,005 shares, compared to its average volume of 2,904,754. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. 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 stock’s 50 day moving average is $155.70 and its 200-day moving average is $138.90. The company has a market capitalization of $61.83 billion, a PE ratio of 11.23, a PEG ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 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 company had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period last year, the firm earned $4.21 EPS. Equities research analysts expect that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm 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 is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.15%. Phillips 66’s payout ratio is presently 32.31%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 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 completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now directly owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSX. Mizuho lowered their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note 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 research note on Thursday, April 11th. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Citigroup assumed coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, 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 report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $157.43.

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.