Clarius Group LLC Reduces Stake in Phillips 66 (NYSE:PSX)

Clarius Group LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 8.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,924 shares of the oil and gas company’s stock after selling 349 shares during the quarter. Clarius Group LLC’s holdings in Phillips 66 were worth $522,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Cardinal Capital Management boosted its position in shares of Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares during the period. Aaron Wealth Advisors LLC boosted its position in shares of Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 82 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of Phillips 66 by 1.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the period. Stratos Wealth Partners LTD. boosted its position in shares of Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after purchasing an additional 90 shares during the period. Finally, West Branch Capital LLC boosted its position in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.8 %

PSX opened at $162.49 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The business has a 50 day simple moving average of $153.37 and a 200-day simple moving average of $134.16. The stock has a market capitalization of $69.52 billion, a P/E ratio of 10.50, a P/E/G ratio of 2.05 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, equities analysts anticipate that Phillips 66 will post 13.2 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a $1.15 dividend. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is presently 27.15%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSX. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company increased their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, StockNews.com raised Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Four investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $156.86.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last ninety days. Corporate insiders own 4.57% of the company’s stock.

Phillips 66 Company Profile

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.