Russell Investments Group Ltd. Reduces Stock Holdings in Phillips 66 (NYSE:PSX)

Russell Investments Group Ltd. lessened its stake in Phillips 66 (NYSE:PSX) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 349,606 shares of the oil and gas company’s stock after selling 20,933 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of Phillips 66 worth $46,531,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PSX. Cornerstone Planning Group LLC boosted its position 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 buying an additional 151 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $36,000. West Branch Capital LLC raised its position in shares of Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. Bell Investment Advisors Inc boosted its stake 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 valued at $37,000 after buying an additional 138 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 during the third quarter worth approximately $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research analyst reports. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Bank of America increased their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Barclays raised their price objective on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Finally, Citigroup assumed coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $151.52 on Tuesday. The stock has a market cap of $64.82 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.83 and a beta of 1.37. The firm’s 50-day simple moving average is $155.70 and its 200 day simple moving average is $137.52. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). The company had revenue of $36.44 billion for the quarter, compared to analyst estimates 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 business posted $4.21 EPS. Equities analysts expect that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.04%. Phillips 66’s payout ratio is presently 32.31%.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 over the last ninety days. Company insiders own 0.22% of the company’s stock.

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.