Phillips 66 (NYSE:PSX) Stock Position Lessened by American International Group Inc.

American International Group Inc. reduced its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,413 shares of the oil and gas company’s stock after selling 2,545 shares during the quarter. American International Group Inc.’s holdings in Phillips 66 were worth $15,366,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of PSX. William Blair Investment Management LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $233,000. Korea Investment CORP boosted its holdings in Phillips 66 by 9.1% during the third quarter. Korea Investment CORP now owns 159,592 shares of the oil and gas company’s stock worth $19,175,000 after buying an additional 13,345 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Phillips 66 in the third quarter worth approximately $2,453,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Phillips 66 in the third quarter valued at $9,533,000. Finally, Envestnet Asset Management Inc. lifted its position 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 during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Raymond James dropped their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Mizuho reduced their price objective on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Wells Fargo & Company increased their target price on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Barclays reduced their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $157.57.

Get Our Latest Analysis on PSX

Phillips 66 Stock Performance

Shares of NYSE PSX traded down $0.91 during trading hours on Friday, reaching $136.76. The stock had a trading volume of 2,107,760 shares, compared to its average volume of 2,033,896. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The business’s fifty day moving average is $147.44 and its two-hundred day moving average is $143.86. The company has a market cap of $57.98 billion, a price-to-earnings ratio of 10.52, a PEG ratio of 1.87 and a beta of 1.37.

Phillips 66 (NYSE:PSXGet Free Report) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the previous year, the business posted $4.21 earnings per share. As a group, research analysts expect that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 3rd. Stockholders of record on Monday, May 20th were issued a $1.15 dividend. The ex-dividend date was Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.36%. Phillips 66’s dividend payout ratio is presently 35.38%.

Insider Buying and Selling

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction dated 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 owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. Insiders sold 50,864 shares of company stock worth $7,567,178 in the last 90 days. 0.22% of the stock is owned by company insiders.

About Phillips 66

(Free Report)

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.

Read More

Want to see what other hedge funds are holding PSX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Phillips 66 (NYSE:PSXFree Report).

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

Receive News & Ratings for Phillips 66 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Phillips 66 and related companies with MarketBeat.com's FREE daily email newsletter.