Stockman Wealth Management Inc. Sells 432 Shares of Phillips 66 (NYSE:PSX)

Stockman Wealth Management Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 12.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,148 shares of the oil and gas company’s stock after selling 432 shares during the quarter. Stockman Wealth Management Inc.’s holdings in Phillips 66 were worth $419,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Barclays PLC boosted its holdings in shares of Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after purchasing an additional 309,239 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after acquiring an additional 283,010 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,570,590 shares of the oil and gas company’s stock valued at $549,156,000 after acquiring an additional 502,785 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Phillips 66 by 21.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock valued at $233,909,000 after acquiring an additional 350,211 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was 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 approximately $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was 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 directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last three months. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Bank of America raised their price objective on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Citigroup began coverage on Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Wells Fargo & Company raised their price objective on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Mizuho cut their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Scotiabank lifted their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Trading Up 1.5 %

Shares of PSX stock traded up $2.34 during mid-day trading on Monday, hitting $157.05. The company’s stock had a trading volume of 1,625,166 shares, compared to its average volume of 2,994,018. The company’s fifty day simple moving average is $154.65 and its 200-day simple moving average is $135.96. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company has a market cap of $67.19 billion, a PE ratio of 10.15, a P/E/G ratio of 1.92 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. As a group, equities research analysts expect that Phillips 66 will post 13.45 earnings per share 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. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.93%. Phillips 66’s dividend payout ratio (DPR) is 29.73%.

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.