Phillips 66 (NYSE:PSX) Position Reduced by Gradient Investments LLC

Gradient Investments LLC trimmed its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 84.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,038 shares of the oil and gas company’s stock after selling 5,559 shares during the quarter. Gradient Investments LLC’s holdings in Phillips 66 were worth $138,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PSX. Moneta Group Investment Advisors LLC boosted its stake in Phillips 66 by 100,843.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock valued at $1,038,646,000 after acquiring an additional 9,969,418 shares during the last quarter. Barclays PLC boosted its stake in Phillips 66 by 416.9% during the 2nd quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock valued at $710,721,000 after acquiring an additional 6,009,826 shares during the last quarter. Norges Bank bought a new position in Phillips 66 during the 4th quarter valued at $364,237,000. Wellington Management Group LLP boosted its stake in Phillips 66 by 62.1% during the 1st quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock valued at $620,979,000 after acquiring an additional 2,753,700 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Phillips 66 by 16.2% during the fourth quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company’s stock worth $724,566,000 after purchasing an additional 968,055 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Insider Activity at Phillips 66

In related news, EVP Zhanna Golodryga sold 5,253 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total value of $709,155.00. Following the completion of the transaction, the executive vice president now owns 24,914 shares in the company, valued at approximately $3,363,390. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Zhanna Golodryga sold 5,253 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $135.00, for a total transaction of $709,155.00. Following the transaction, the executive vice president now owns 24,914 shares of the company’s stock, valued at approximately $3,363,390. The disclosure for this sale can be found here. Insiders sold 40,309 shares of company stock worth $5,981,836 in the last 90 days. Corporate insiders own 4.57% of the company’s stock.

Phillips 66 Stock Up 2.8 %

PSX stock opened at $163.34 on Friday. The firm’s 50-day simple moving average is $147.67 and its 200 day simple moving average is $130.85. The stock has a market cap of $69.88 billion, a PE ratio of 10.56, a price-to-earnings-growth ratio of 2.12 and a beta of 1.36. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $163.79.

Phillips 66 (NYSE:PSXGet Free Report) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, sell-side analysts predict that Phillips 66 will post 12.85 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were given a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a yield of 2.57%. Phillips 66’s dividend payout ratio is presently 27.15%.

Analysts Set New Price Targets

A number of analysts have weighed in on PSX shares. Barclays increased their target price on shares of Phillips 66 from $132.00 to $139.00 and gave the stock an “equal weight” rating in a report on Monday, February 5th. TD Cowen increased their target price on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, December 4th. Citigroup started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Wells Fargo & Company increased their target price on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Finally, The Goldman Sachs Group increased their target price on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $151.08.

Read Our Latest Analysis on PSX

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.

See Also

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

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