Intech Investment Management LLC Sells 5,592 Shares of Phillips 66 $PSX

Intech Investment Management LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 31.1% in the fourth quarter, Holdings Channel reports. The firm owned 12,369 shares of the oil and gas company’s stock after selling 5,592 shares during the period. Intech Investment Management LLC’s holdings in Phillips 66 were worth $1,596,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSX. Board of the Pension Protection Fund bought a new position in shares of Phillips 66 during the fourth quarter worth $26,000. Accordant Advisory Group Inc raised its stake in Phillips 66 by 900.0% during the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Phillips 66 during the 4th quarter worth $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares in the last quarter. Finally, Dorato Capital Management bought a new position in Phillips 66 during the fourth quarter worth about $35,000. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Wednesday, May 6th. The shares were bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares in the company, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 92,229 shares of company stock valued at $15,990,030 over the last quarter. Insiders own 0.40% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $184.14 on Friday. The company has a market capitalization of $73.83 billion, a price-to-earnings ratio of 18.14, a P/E/G ratio of 0.27 and a beta of 0.68. The business’s 50-day moving average price is $172.71 and its two-hundred day moving average price is $155.98. Phillips 66 has a 1 year low of $111.37 and a 1 year high of $190.61. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) earnings per share. Equities analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were given a dividend of $1.27 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.8%. Phillips 66’s dividend payout ratio is 50.05%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSX. Raymond James Financial increased their price target on Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Citigroup increased their target price on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.28.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.