Phillips 66 (NYSE:PSX) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 4.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,886 shares of the oil and gas company’s stock after selling 1,412 shares during the period. Johnson Investment Counsel Inc.’s holdings in Phillips 66 were worth $2,755,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bornite Capital Management LP purchased a new stake in Phillips 66 in the first quarter valued at $8,639,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares during the period. Synovus Financial Corp raised its position in Phillips 66 by 5.1% in the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after purchasing an additional 788 shares during the period. Cibc World Market Inc. raised its position in Phillips 66 by 61.9% in the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 2,766 shares during the period. Finally, Blair William & Co. IL raised its position in Phillips 66 by 103.8% in the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after purchasing an additional 27,267 shares during the period. Institutional investors and hedge funds own 71.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PSX shares. StockNews.com started coverage on Phillips 66 in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Argus lifted their target price on Phillips 66 from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 14th. Mizuho reduced their target price on Phillips 66 from $131.00 to $116.00 and set a “neutral” rating on the stock in a research report on Friday, October 6th. Tudor, Pickering, Holt & Co. upgraded Phillips 66 from a “hold” rating to a “buy” rating and boosted their price objective for the company from $115.00 to $130.00 in a report on Monday, October 30th. Finally, The Goldman Sachs Group boosted their price objective on Phillips 66 from $125.00 to $141.00 and gave the company a “buy” rating in a report on Friday, September 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Phillips 66 Trading Up 2.5 %

PSX opened at $116.37 on Friday. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $125.19. The stock has a market capitalization of $51.20 billion, a price-to-earnings ratio of 7.02, a PEG ratio of 0.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.29 and a quick ratio of 0.96. The business has a fifty day moving average price of $115.72 and a 200 day moving average price of $107.20.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, October 27th. The oil and gas company reported $4.63 EPS for the quarter, missing the consensus estimate of $4.78 by ($0.15). Phillips 66 had a return on equity of 23.32% and a net margin of 5.05%. During the same period last year, the firm earned $6.46 EPS. Sell-side analysts expect that Phillips 66 will post 15.45 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a dividend of $1.05 per share. The ex-dividend date is Thursday, November 16th. This represents a $4.20 annualized dividend and a yield of 3.61%. Phillips 66’s payout ratio is 25.33%.

Insider Transactions at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $117.02, for a total transaction of $819,140.00. Following the completion of the transaction, the vice president now directly owns 6,682 shares of the company’s stock, valued at approximately $781,927.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Kevin J. Mitchell sold 30,800 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $120.97, for a total transaction of $3,725,876.00. Following the completion of the transaction, the chief financial officer now directly owns 103,803 shares of the company’s stock, valued at approximately $12,557,048.91. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph Scott Pruitt sold 7,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $117.02, for a total value of $819,140.00. Following the completion of the sale, the vice president now directly owns 6,682 shares of the company’s stock, valued at $781,927.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,770 shares of company stock valued at $6,158,614. 4.57% of the stock is currently owned by corporate insiders.

About Phillips 66

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.