Schear Investment Advisers LLC Has $203,000 Position in Phillips 66 (NYSE:PSX)

Schear Investment Advisers LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 74.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,645 shares of the oil and gas company’s stock after selling 4,723 shares during the period. Schear Investment Advisers LLC’s holdings in Phillips 66 were worth $203,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Geode Capital Management LLC grew its position in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after acquiring an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares during the period. Northern Trust Corp boosted its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after buying an additional 440,107 shares during the period. Norges Bank bought a new stake in shares of Phillips 66 during the 4th quarter worth about $497,648,000. Finally, Invesco Ltd. boosted its holdings in shares of Phillips 66 by 9.2% during the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after buying an additional 347,905 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PSX. Morgan Stanley reduced their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $149.00 to $147.00 and set an “overweight” rating for the company in a report on Wednesday, June 11th. Wall Street Zen raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. TD Cowen lifted their price objective on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Finally, Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 13th. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.07.

Insider Buying and Selling

In related news, EVP Brian Mandell sold 9,800 shares of the company’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total transaction of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert W. Pease acquired 439 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the completion of the transaction, the director owned 4,091 shares in the company, valued at $465,760.35. This represents a 12.02% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $131.66 on Friday. The firm has a 50 day moving average of $119.47 and a 200-day moving average of $117.77. The stock has a market capitalization of $53.64 billion, a PE ratio of 29.99, a PEG ratio of 2.08 and a beta of 1.02. The company has a current ratio of 1.23, a quick ratio of 0.88 and a debt-to-equity ratio of 0.63. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. During the same quarter in the previous year, the firm posted $1.90 earnings per share. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66’s dividend payout ratio is 109.34%.

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.