Phillips 66 (NYSE:PSX) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC trimmed its stake in Phillips 66 (NYSE:PSX) by 49.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,392 shares of the oil and gas company’s stock after selling 3,277 shares during the quarter. Dearborn Partners LLC’s holdings in Phillips 66 were worth $419,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Pacific Center for Financial Services acquired a new stake in shares of Phillips 66 during the 4th quarter worth $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 during the first quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 during the fourth quarter worth about $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. TD Cowen boosted their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a “buy” rating in a report on Monday. Cantor Fitzgerald began coverage on shares of Phillips 66 in a research note on Wednesday, June 18th. They set a “neutral” rating for the company. UBS Group raised their target price on shares of Phillips 66 from $141.00 to $143.00 and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Scotiabank reiterated a “sector perform” rating and issued a $133.00 price target on shares of Phillips 66 in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $136.13.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the sale, the executive vice president owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares of the company’s stock, valued at approximately $5,638,490. The trade was a 9.20% decrease in their position. The disclosure for this sale can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $124.50 on Thursday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a current ratio of 1.07, a quick ratio of 0.88 and a debt-to-equity ratio of 0.60. The stock has a market cap of $50.31 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.02. The stock has a 50 day moving average of $122.07 and a 200-day moving average of $118.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.59. The firm had revenue of $33.77 billion for the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. During the same period in the prior year, the firm posted $2.31 EPS. On average, analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.86%. Phillips 66’s dividend payout ratio (DPR) is 115.38%.

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.