Bowling Portfolio Management LLC Sells 500 Shares of Phillips 66 (NYSE:PSX)

Bowling Portfolio Management LLC lessened its position in Phillips 66 (NYSE:PSXGet Rating) by 2.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,635 shares of the oil and gas company’s stock after selling 500 shares during the quarter. Bowling Portfolio Management LLC’s holdings in Phillips 66 were worth $1,437,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. First Community Trust NA lifted its holdings in shares of Phillips 66 by 60.6% in the 1st quarter. First Community Trust NA now owns 334 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 126 shares during the last quarter. Evolution Advisers Inc. bought a new stake in Phillips 66 during the 4th quarter valued at about $28,000. Schubert & Co bought a new stake in Phillips 66 during the 4th quarter valued at about $29,000. Curi Wealth Management LLC bought a new stake in Phillips 66 during the 4th quarter valued at about $31,000. Finally, Godsey & Gibb Associates bought a new stake in Phillips 66 during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 64.28% of the company’s stock.

NYSE:PSX opened at $90.51 on Thursday. The company has a market cap of $43.54 billion, a PE ratio of 15.77, a P/E/G ratio of 0.64 and a beta of 1.39. Phillips 66 has a twelve month low of $63.19 and a twelve month high of $111.28. The company has a current ratio of 1.13, a quick ratio of 0.87 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $94.81 and its two-hundred day moving average is $86.14.

Phillips 66 (NYSE:PSXGet Rating) last released its earnings results on Friday, April 29th. The oil and gas company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.18. The company had revenue of $36.72 billion for the quarter, compared to the consensus estimate of $34.86 billion. Phillips 66 had a net margin of 1.97% and a return on equity of 17.07%. During the same quarter in the previous year, the firm earned ($1.16) EPS. As a group, analysts expect that Phillips 66 will post 12.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 1st. Stockholders of record on Monday, May 23rd were issued a $0.97 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $0.92. This represents a $3.88 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, May 20th. Phillips 66’s dividend payout ratio is 67.60%.

In other Phillips 66 news, EVP Timothy D. Roberts sold 59,100 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $110.21, for a total transaction of $6,513,411.00. Following the completion of the transaction, the executive vice president now directly owns 48,201 shares in the company, valued at $5,312,232.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Greg C. Garland sold 146,700 shares of the company’s stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the sale, the chief executive officer now directly owns 656,563 shares of the company’s stock, valued at approximately $72,024,961.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 297,700 shares of company stock valued at $32,327,782. Company insiders own 0.74% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. TheStreet upgraded shares of Phillips 66 from a “c+” rating to a “b” rating in a report on Wednesday, February 23rd. Citigroup assumed coverage on shares of Phillips 66 in a report on Tuesday, April 26th. They set a “neutral” rating and a $89.00 price objective for the company. BMO Capital Markets started coverage on shares of Phillips 66 in a report on Monday, June 13th. They set an “outperform” rating and a $132.00 price objective for the company. Piper Sandler boosted their price target on shares of Phillips 66 from $119.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, May 23rd. Finally, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $104.47.

Phillips 66 Company Profile (Get Rating)

Phillips 66 operates as an energy manufacturing and logistics company. 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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