Mach 1 Financial Group LLC Trims Stock Holdings in Phillips 66 (NYSE:PSX)

Mach 1 Financial Group LLC reduced its stake in Phillips 66 (NYSE:PSX) by 55.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,768 shares of the oil and gas company’s stock after selling 3,508 shares during the period. Mach 1 Financial Group LLC’s holdings in Phillips 66 were worth $369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC acquired a new position in Phillips 66 in the 4th quarter valued at about $254,336,000. Bank of New York Mellon Corp grew its position in Phillips 66 by 12.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after acquiring an additional 502,785 shares in the last quarter. Bahl & Gaynor Inc. grew its position in Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after acquiring an additional 439,360 shares in the last quarter. Acadian Asset Management LLC grew its position in Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after acquiring an additional 430,723 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after acquiring an additional 421,714 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $140.17 on Thursday. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The stock has a 50 day moving average of $155.67 and a two-hundred day moving average of $137.76. The stock has a market cap of $59.43 billion, a P/E ratio of 10.78, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the firm posted $4.21 EPS. On average, research analysts forecast that Phillips 66 will post 13.13 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is 32.31%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PSX shares. Bank of America lifted their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Scotiabank boosted their price objective 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. Raymond James boosted their price objective on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Mizuho lowered their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Saturday, April 27th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.43.

Insider Transactions at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last 90 days. 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.