Successful Portfolios LLC Lowers Holdings in Phillips 66 (NYSE:PSX)

Successful Portfolios LLC reduced its stake in Phillips 66 (NYSE:PSX) by 9.0% during the first quarter, HoldingsChannel reports. The fund owned 2,865 shares of the oil and gas company’s stock after selling 283 shares during the period. Successful Portfolios LLC’s holdings in Phillips 66 were worth $468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. DekaBank Deutsche Girozentrale lifted its stake in shares of Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after buying an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at $10,402,000. First Dallas Securities Inc. purchased a new stake in shares of Phillips 66 in the 3rd quarter worth $753,000. TIAA Trust National Association raised its holdings in Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after purchasing an additional 3,670 shares during the period. Finally, Daiwa Securities Group Inc. increased its position in Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after buying an additional 10,536 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX stock opened at $141.17 on Monday. The stock has a market capitalization of $59.85 billion, a price-to-earnings ratio of 10.86, a P/E/G ratio of 2.12 and a beta of 1.34. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. Phillips 66 has a twelve month low of $93.40 and a twelve month high of $174.08. The stock has a fifty day simple moving average of $142.91 and a two-hundred day simple moving average of $144.83.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same quarter in the prior year, the business posted $4.21 earnings per share. On average, analysts predict that Phillips 66 will post 11.08 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.26%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date was Friday, May 17th. Phillips 66’s payout ratio is presently 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Scotiabank increased their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Mizuho cut their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, June 20th. Argus reissued a “buy” rating and set a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five 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, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $157.79.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is owned by corporate insiders.

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.