Quadrature Capital Ltd Has $9.34 Million Stock Position in Phillips 66 (NYSE:PSX)

Quadrature Capital Ltd decreased its stake in shares of Phillips 66 (NYSE:PSX) by 68.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,122 shares of the oil and gas company’s stock after selling 151,808 shares during the quarter. Quadrature Capital Ltd’s holdings in Phillips 66 were worth $9,337,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Livelsberger Financial Advisory acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $57,000. PNC Financial Services Group Inc. boosted its stake in shares of Phillips 66 by 6.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 834,504 shares of the oil and gas company’s stock worth $111,106,000 after acquiring an additional 47,249 shares during the period. M3 Advisory Group LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $262,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $27,000. Finally, Leo Wealth LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $233,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $137.29 on Tuesday. The firm has a market cap of $58.20 billion, a P/E ratio of 10.56, a price-to-earnings-growth ratio of 1.87 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-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 business’s fifty day moving average is $146.82 and its 200-day moving average is $144.07.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the company posted $4.21 earnings per share. Sell-side analysts expect that Phillips 66 will post 12.16 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were given a dividend of $1.15 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. The Goldman Sachs Group boosted their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Piper Sandler decreased their target price on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Finally, Mizuho decreased their price objective 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.57.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the SEC, which is available through this link. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. 0.22% of the stock is 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.