Phillips 66 (NYSE:PSX) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 13.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,881 shares of the oil and gas company’s stock after selling 4,414 shares during the period. Van ECK Associates Corp’s holdings in Phillips 66 were worth $3,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. YHB Investment Advisors Inc. raised its holdings in Phillips 66 by 2.1% in the 2nd quarter. YHB Investment Advisors Inc. now owns 12,991 shares of the oil and gas company’s stock valued at $1,239,000 after buying an additional 265 shares during the period. Choate Investment Advisors purchased a new stake in Phillips 66 in the 3rd quarter valued at about $247,000. Pinebridge Investments L.P. raised its holdings in Phillips 66 by 8.9% in the 2nd quarter. Pinebridge Investments L.P. now owns 210,402 shares of the oil and gas company’s stock valued at $20,068,000 after buying an additional 17,226 shares during the period. Hussman Strategic Advisors Inc. purchased a new stake in Phillips 66 in the 2nd quarter valued at about $1,793,000. Finally, Illinois Municipal Retirement Fund raised its holdings in Phillips 66 by 14.7% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 125,791 shares of the oil and gas company’s stock valued at $11,998,000 after buying an additional 16,092 shares during the period. Hedge funds and other institutional investors own 71.83% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Barclays lifted their target price on Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a research report on Monday, February 5th. Wells Fargo & Company lifted their target price on Phillips 66 from $151.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $146.00 target price for the company in a research report on Tuesday, October 31st. StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Citigroup began coverage on Phillips 66 in a research report on Wednesday, January 24th. They set a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $138.21.

View Our Latest Report on Phillips 66

Phillips 66 Price Performance

Shares of NYSE PSX opened at $144.45 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.58. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $149.52. The stock has a 50 day moving average of $134.51 and a two-hundred day moving average of $122.38. The stock has a market cap of $63.55 billion, a P/E ratio of 9.34, a P/E/G ratio of 1.90 and a beta of 1.38.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

Insider Transactions at Phillips 66

In other news, EVP Zhanna Golodryga sold 5,253 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the sale, the executive vice president now owns 24,914 shares in the company, valued at $3,363,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Zhanna Golodryga sold 5,253 shares of the company’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the completion of the sale, the executive vice president now owns 24,914 shares in the company, valued at $3,363,390. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 31,700 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $130.21, for a total value of $4,127,657.00. Following the sale, the chief financial officer now owns 103,351 shares of the company’s stock, valued at approximately $13,457,333.71. The disclosure for this sale can be found here. Insiders sold 63,587 shares of company stock worth $8,671,094 over the last 90 days. 4.57% of the stock is currently owned by insiders.

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.

Further Reading

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

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