Dumont & Blake Investment Advisors LLC Lowers Stake in Phillips 66 (NYSE:PSX)

Dumont & Blake Investment Advisors LLC decreased its position in Phillips 66 (NYSE:PSX) by 20.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,262 shares of the oil and gas company’s stock after selling 320 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Phillips 66 were worth $206,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in Phillips 66 during the 4th quarter worth approximately $27,000. First United Bank & Trust acquired a new stake in shares of Phillips 66 in the fourth quarter valued at $31,000. Rise Advisors LLC purchased a new position in Phillips 66 in the first quarter valued at $40,000. Signature Resources Capital Management LLC acquired a new position in Phillips 66 during the 4th quarter worth $33,000. Finally, Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter worth about $36,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Up 1.3 %

Shares of Phillips 66 stock opened at $141.17 on Monday. 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 company has a market capitalization of $59.85 billion, a P/E ratio of 10.86, a PEG ratio of 2.12 and a beta of 1.34. Phillips 66 has a 1 year low of $93.40 and a 1 year high of $174.08. The company’s fifty day moving average is $142.91 and its two-hundred day moving average is $144.83.

Phillips 66 (NYSE:PSX) last released its quarterly 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). The company had revenue of $36.44 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $4.21 EPS. Analysts forecast that Phillips 66 will post 11.08 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Friday, May 17th. 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 3.26%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. TD Cowen decreased their price objective on Phillips 66 from $164.00 to $155.00 and set a “buy” rating for the company in a research note on Friday, June 21st. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho dropped their target price on Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, June 20th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.79.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.22% of the stock is currently owned by 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.