Phillips 66 (NYSE:PSX) Position Reduced by Procyon Advisors LLC

Procyon Advisors LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 25.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,180 shares of the oil and gas company’s stock after selling 7,572 shares during the quarter. Procyon Advisors LLC’s holdings in Phillips 66 were worth $2,953,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSX. Moneta Group Investment Advisors LLC boosted its stake in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after acquiring an additional 9,969,418 shares during the last quarter. Barclays PLC lifted its position in shares of Phillips 66 by 416.9% in the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after buying an additional 6,009,826 shares during the last quarter. Norges Bank bought a new position in shares of Phillips 66 in the 4th quarter worth about $364,237,000. Wellington Management Group LLP lifted its position in shares of Phillips 66 by 62.1% in the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after buying an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley lifted its position in shares of Phillips 66 by 16.2% in the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock worth $724,566,000 after buying an additional 968,055 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Raymond James raised 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. TD Cowen raised their price target on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, December 4th. Mizuho raised their price target on shares of Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Wells Fargo & Company raised their price target on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, StockNews.com raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.69.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.26 during trading hours on Thursday, hitting $160.22. 271,038 shares of the company’s stock traded hands, compared to its average volume of 3,134,902. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $161.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company’s fifty day simple moving average is $145.66 and its two-hundred day simple moving average is $130.14. The company has a market cap of $68.55 billion, a price-to-earnings ratio of 10.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. As a group, equities analysts anticipate that Phillips 66 will post 12.55 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date was Friday, February 16th. Phillips 66’s payout ratio is 27.15%.

Insiders Place Their Bets

In related news, EVP Zhanna Golodryga sold 5,253 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the sale, the executive vice president now directly owns 24,914 shares in the company, valued at $3,363,390. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Zhanna Golodryga sold 5,253 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total transaction of $709,155.00. Following the transaction, the executive vice president now directly owns 24,914 shares in the company, valued at approximately $3,363,390. The disclosure for this sale can be found here. Insiders sold a total of 40,309 shares of company stock worth $5,981,836 over the last ninety days. 4.57% of the stock is currently owned by company 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.