Westwood Holdings Group Inc. Trims Stock Holdings in Phillips 66 (NYSE:PSX)

Westwood Holdings Group Inc. cut its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,136 shares of the oil and gas company’s stock after selling 115 shares during the period. Westwood Holdings Group Inc.’s holdings in Phillips 66 were worth $418,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its holdings in 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 valued at $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $10,402,000. First Dallas Securities Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth approximately $753,000. TIAA Trust National Association lifted its holdings in 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 in the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock worth $6,470,000 after acquiring an additional 10,536 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of recent research reports. 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 report on Friday, March 15th. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Barclays cut their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 30th. JPMorgan Chase & Co. lifted their target price on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Finally, Argus reiterated a “buy” rating and issued a $167.00 price target on shares of Phillips 66 in a research report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.93.

View Our Latest Stock Analysis on PSX

Insiders Place Their Bets

In other news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the 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 in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at $7,051,617. The disclosure for this sale can be found here. Insiders have sold a total of 50,864 shares of company stock valued at $7,567,178 over the last quarter. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $138.07 on Monday. The stock has a market capitalization of $58.53 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.89 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The firm’s 50-day moving average is $150.65 and its two-hundred day moving average is $143.37.

Phillips 66 (NYSE:PSXGet Free Report) last posted its quarterly earnings data 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). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter last year, the business earned $4.21 EPS. Equities analysts predict that Phillips 66 will post 12.16 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.33%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, May 17th. Phillips 66’s payout ratio is presently 35.38%.

About Phillips 66

(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.

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

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