Xponance Inc. Decreases Stake in Phillips 66 (NYSE:PSX)

Xponance Inc. lowered its position in Phillips 66 (NYSE:PSX) by 18.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,282 shares of the oil and gas company’s stock after selling 13,463 shares during the quarter. Xponance Inc.’s holdings in Phillips 66 were worth $7,760,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PSX. First Capital Advisors Group LLC. purchased a new position in Phillips 66 in the second quarter worth approximately $25,000. Cornerstone Planning Group LLC lifted its stake in Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the last quarter. Worth Asset Management LLC purchased a new position in Phillips 66 in the first quarter worth approximately $32,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the fourth quarter worth approximately $36,000. Finally, Bell Investment Advisors Inc lifted its position in shares of Phillips 66 by 82.1% during the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $154.74 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock has a market capitalization of $66.20 billion, a P/E ratio of 10.00, a P/E/G ratio of 1.90 and a beta of 1.37. The company’s fifty day moving average is $154.40 and its two-hundred day moving average is $135.31. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. On average, sell-side analysts predict that Phillips 66 will post 13.45 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is currently 27.15%.

Insider Buying and Selling at Phillips 66

In other news, Director Robert W. Pease acquired 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 purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. In the last three months, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Raymond James boosted their price objective on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Mizuho reduced their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Finally, Piper Sandler boosted their price objective on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $158.00.

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.