Demars Financial Group LLC Sells 13,249 Shares of Phillips 66 (NYSE:PSX)

Demars Financial Group LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 60.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,810 shares of the oil and gas company’s stock after selling 13,249 shares during the quarter. Phillips 66 comprises approximately 0.6% of Demars Financial Group LLC’s investment portfolio, making the stock its 17th largest position. Demars Financial Group LLC’s holdings in Phillips 66 were worth $1,173,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. DekaBank Deutsche Girozentrale grew its position in shares of Phillips 66 by 12.4% during the 4th 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 during the period. Eldred Rock Partners LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $753,000. Finally, TIAA Trust National Association grew its position in shares of Phillips 66 by 32.9% during 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 buying an additional 3,670 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 1.8 %

NYSE PSX opened at $156.00 on Wednesday. The stock has a market capitalization of $66.74 billion, a price-to-earnings ratio of 10.27, a PEG ratio of 1.95 and a beta of 1.37. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The business’s fifty day moving average is $154.93 and its 200-day moving average is $136.31.

Phillips 66 (NYSE:PSX) last released 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 company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. Equities research analysts predict that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.95%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is presently 27.15%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Citigroup began coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, Barclays lifted their price target on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 in the last ninety days. Company insiders own 0.22% of the company’s stock.

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.