Phillips 66 (NYSE:PSX) Shares Acquired by Marco Investment Management LLC

Marco Investment Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 74,285 shares of the oil and gas company’s stock after buying an additional 90 shares during the quarter. Marco Investment Management LLC’s holdings in Phillips 66 were worth $9,890,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. International Assets Investment Management LLC acquired a new stake in Phillips 66 in the fourth quarter valued at about $254,336,000. Bank of New York Mellon Corp lifted its position 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 during the period. Bahl & Gaynor Inc. lifted its position in shares of Phillips 66 by 41.2% during the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock valued at $181,049,000 after acquiring an additional 439,360 shares during the period. Acadian Asset Management LLC lifted its position in shares of Phillips 66 by 1,038.3% during the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock valued at $56,720,000 after acquiring an additional 430,723 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Phillips 66 by 53.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock valued at $145,951,000 after acquiring an additional 421,714 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction that occurred on Monday, March 18th. The shares were 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 directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction 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 approximately $1,036,164.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction 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. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Mizuho reduced their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research report on Thursday, April 11th. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. Finally, StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.00.

Phillips 66 Trading Down 3.7 %

PSX stock traded down $5.83 during midday trading on Friday, hitting $151.41. The stock had a trading volume of 4,206,800 shares, compared to its average volume of 2,131,287. The firm has a market cap of $64.78 billion, a PE ratio of 11.65, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company’s 50-day moving average price is $155.55 and its 200 day moving average price is $137.23.

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 firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. During the same period in the previous year, the firm posted $4.21 earnings per share. On average, equities research analysts predict that Phillips 66 will post 13.77 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

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

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.