King Luther Capital Management Corp Has $5.74 Million Stake in Phillips 66 (NYSE:PSX)

King Luther Capital Management Corp lowered its holdings in Phillips 66 (NYSE:PSX) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,143 shares of the oil and gas company’s stock after selling 286 shares during the quarter. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $5,744,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Nvwm LLC raised its stake in shares of Phillips 66 by 0.9% during the 4th quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after purchasing an additional 75 shares during the period. Cardinal Capital Management increased its position in shares of Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after purchasing an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC increased its position in shares of Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock worth $312,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Phillips 66 by 3.9% in the fourth quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock worth $302,000 after buying an additional 85 shares in the last quarter. Finally, Cornerstone Wealth Management LLC boosted its stake in Phillips 66 by 1.3% in the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.5 %

PSX stock traded down $0.69 during midday trading on Thursday, hitting $142.21. 215,579 shares of the company’s stock were exchanged, compared to its average volume of 2,810,144. The business has a 50-day simple moving average of $155.14 and a two-hundred day simple moving average of $141.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $60.29 billion, a PE ratio of 10.99, a P/E/G ratio of 1.96 and a beta of 1.41. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period last year, the business earned $4.21 EPS. On average, sell-side analysts predict that Phillips 66 will post 12.26 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 is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.23%. Phillips 66’s payout ratio is presently 35.38%.

Insider Activity

In other news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Phillips 66 news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the sale, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 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 of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 50,864 shares of company stock valued at $7,567,178. 0.22% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Barclays reduced their price objective on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company raised their target price on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. lifted their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Five equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.21.

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.