Phillips 66 $PSX Holdings Reduced by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 32.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 42,975 shares of the oil and gas company’s stock after selling 21,067 shares during the period. Kingsview Wealth Management LLC’s holdings in Phillips 66 were worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Vanguard Group Inc. grew its holdings in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after buying an additional 5,356,558 shares in the last quarter. M&T Bank Corp grew its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after buying an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC grew its holdings in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after buying an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC bought a new position in Phillips 66 in the 2nd quarter worth approximately $107,967,000. Finally, Holocene Advisors LP grew its holdings in Phillips 66 by 2,433.1% in the 2nd quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company’s stock worth $84,894,000 after buying an additional 683,507 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PSX. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a report on Wednesday. Jefferies Financial Group upped their price objective on shares of Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a report on Tuesday. BMO Capital Markets upped their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. Finally, Citigroup upped their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

Insider Transactions at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of Phillips 66 stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total transaction of $662,606.00. Following the transaction, the director directly owned 8,701 shares of the company’s stock, valued at $1,517,193.37. The trade was a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the transaction, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 114,029 shares of company stock valued at $19,641,455 in the last three months. 0.40% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $175.79 on Friday. Phillips 66 has a 12 month low of $111.19 and a 12 month high of $190.61. The stock has a market cap of $70.48 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.26 and a beta of 0.70. The stock’s 50 day moving average price is $172.38 and its 200 day moving average price is $154.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue was up 6.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.90) earnings per share. Equities research analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a dividend of $1.27 per share. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.