Phillips 66 (NYSE:PSX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lessened its holdings in Phillips 66 (NYSE:PSXFree Report) by 20.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,208 shares of the oil and gas company’s stock after selling 3,087 shares during the quarter. Shell Asset Management Co.’s holdings in Phillips 66 were worth $1,625,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the period. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth $10,402,000. First Dallas Securities Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $753,000. TIAA Trust National Association lifted its stake in shares of Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in Phillips 66 by 27.7% during 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 buying 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

Several equities research analysts have recently commented on PSX shares. Raymond James decreased their price target on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Mizuho dropped their price target 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. Piper Sandler decreased their price objective on shares of Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $158.93.

View Our Latest Stock Report on Phillips 66

Insider Activity

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on 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 owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock worth $7,567,178 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

PSX stock opened at $138.11 on Tuesday. The company has a market cap of $58.55 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. 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 50-day moving average price of $150.14 and a two-hundred day moving average price of $143.51. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $35.87 billion. During the same period in the prior year, the firm earned $4.21 earnings per share. As a group, research analysts predict that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $1.15 per share. 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. This represents a $4.60 annualized dividend and a yield of 3.33%. Phillips 66’s payout ratio is 35.38%.

Phillips 66 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.

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

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