Phillips 66 (NYSE:PSX) Shares Sold by Perigon Wealth Management LLC

Perigon Wealth Management LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,581 shares of the oil and gas company’s stock after selling 230 shares during the period. Perigon Wealth Management LLC’s holdings in Phillips 66 were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Capital Advisors Group LLC. purchased a new position in Phillips 66 in the 2nd quarter valued at $25,000. Cornerstone Planning Group LLC increased its stake in Phillips 66 by 134.8% in the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 151 shares in the last quarter. Worth Asset Management LLC purchased a new stake in Phillips 66 during the first quarter worth $32,000. Bruce G. Allen Investments LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $36,000. Finally, Bell Investment Advisors Inc raised its position in Phillips 66 by 82.1% during the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value 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 is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 in the last quarter. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PSX. Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating on the stock. Barclays boosted their target price on shares of Phillips 66 from $132.00 to $139.00 and gave the company an “equal weight” rating in a report on Monday, February 5th. Scotiabank raised their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Bank of America raised their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.86.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $160.82 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $153.64 and its two-hundred day moving average price is $134.51. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The stock has a market capitalization of $68.80 billion, a P/E ratio of 10.40, a P/E/G ratio of 2.05 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. As a group, sell-side analysts forecast that Phillips 66 will post 13.2 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a dividend yield of 2.86%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is currently 27.15%.

Phillips 66 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.