Evoke Wealth LLC Sells 495 Shares of Phillips 66 (NYSE:PSX)

Evoke Wealth LLC cut its holdings in Phillips 66 (NYSE:PSXFree Report) by 22.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,747 shares of the oil and gas company’s stock after selling 495 shares during the period. Evoke Wealth LLC’s holdings in Phillips 66 were worth $233,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSX. First United Bank & Trust bought a new position in shares of Phillips 66 in the fourth quarter valued at approximately $31,000. Cornerstone Planning Group LLC lifted its stake in 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 purchasing an additional 151 shares during the last quarter. Signature Resources Capital Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $33,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $36,000. Finally, Gladius Capital Management LP purchased a new position in Phillips 66 in the fourth quarter valued at approximately $36,000. 76.93% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s 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 transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s 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 transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s 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 in the company, valued at $1,036,164.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,864 shares of company stock valued at $7,567,178. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PSX. JPMorgan Chase & Co. upped their price objective on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Bank of America upped their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Argus reiterated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research note on Thursday, May 30th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, Mizuho dropped their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.93.

Get Our Latest Stock Report on Phillips 66

Phillips 66 Stock Down 2.2 %

PSX opened at $138.93 on Tuesday. The stock has a market cap of $58.90 billion, a PE ratio of 10.69, a P/E/G ratio of 1.95 and a beta of 1.37. The company has a quick ratio of 0.82, a current ratio of 1.17 and a debt-to-equity ratio of 0.58. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The business’s fifty day simple moving average is $152.48 and its 200 day simple moving average is $142.80.

Phillips 66 (NYSE:PSXGet Free Report) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company earned $4.21 EPS. As a group, research analysts expect that Phillips 66 will post 12.16 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 35.38%.

Phillips 66 Company Profile

(Free Report)

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.

See Also

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

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.