Russell Investments Group Ltd. Has $46.53 Million Holdings in Phillips 66 (NYSE:PSX)

Russell Investments Group Ltd. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 349,606 shares of the oil and gas company’s stock after selling 20,933 shares during the quarter. Russell Investments Group Ltd.’s holdings in Phillips 66 were worth $46,531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Cardinal Capital Management boosted its position in Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after buying an additional 77 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after buying an additional 82 shares during the period. Cornerstone Wealth Management LLC raised its position in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after acquiring an additional 86 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in shares of Phillips 66 by 0.4% in the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock worth $2,958,000 after acquiring an additional 90 shares during the period. Finally, West Branch Capital LLC lifted its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday. Piper Sandler lifted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Scotiabank boosted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Bank of America boosted their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.00.

Phillips 66 Trading Up 0.1 %

NYSE:PSX opened at $151.52 on Tuesday. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a market cap of $64.82 billion, a PE ratio of 11.66, a PEG ratio of 1.83 and a beta of 1.37. 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 firm has a 50-day moving average of $155.70 and a 200-day moving average of $137.52.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. During the same period in the previous year, the company posted $4.21 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 13.77 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. 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 3.04%. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Insider Activity at Phillips 66

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction 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 $1,035,242.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% 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.