Donaldson Capital Management LLC Has $241,000 Position in Phillips 66 (NYSE:PSX)

Donaldson Capital Management LLC reduced its stake in Phillips 66 (NYSE:PSX) by 19.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,807 shares of the oil and gas company’s stock after selling 447 shares during the period. Donaldson Capital Management LLC’s holdings in Phillips 66 were worth $241,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Capital Advisors Group LLC. bought a new stake in shares of Phillips 66 in the second quarter valued at about $25,000. Cornerstone Planning Group LLC boosted its position in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 151 shares during the period. Worth Asset Management LLC bought a new stake in shares of Phillips 66 in the first quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $36,000. Finally, Bell Investment Advisors Inc boosted its position in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PSX shares. Bank of America boosted their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Raymond James upped their price objective 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. Barclays upped their price objective on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Monday, February 5th. Piper Sandler upped their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Finally, Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $156.86.

Phillips 66 Stock Down 1.9 %

PSX stock opened at $157.80 on Wednesday. The stock has a market capitalization of $67.51 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.37. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08. The firm has a 50-day moving average price of $153.87 and a 200-day moving average price of $134.78.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, equities research analysts anticipate that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.92%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 27.15%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were 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 owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the 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 sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last quarter. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.