Nicholas Hoffman & Company LLC. Reduces Holdings in Phillips 66 (NYSE:PSX)

Nicholas Hoffman & Company LLC. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 22.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,320 shares of the oil and gas company’s stock after selling 390 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Phillips 66 were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of PSX. Redmont Wealth Advisors LLC purchased a new position in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Ables Iannone Moore & Associates Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $27,000. First United Bank & Trust purchased a new stake in Phillips 66 in the fourth quarter worth $31,000. Rise Advisors LLC bought a new position in Phillips 66 in the first quarter worth $40,000. Finally, Signature Resources Capital Management LLC purchased a new position in Phillips 66 during the fourth quarter valued at $33,000. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In other news, 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 value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Pease bought 682 shares of Phillips 66 stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock valued at $5,272,681. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

Shares of PSX traded down $8.45 during mid-day trading on Tuesday, reaching $143.09. The stock had a trading volume of 3,763,921 shares, compared to its average volume of 2,983,768. The business has a fifty day moving average of $155.74 and a 200 day moving average of $137.75. 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 firm has a market cap of $61.22 billion, a price-to-earnings ratio of 11.01, a PEG ratio of 1.83 and a beta of 1.37. Phillips 66 has a 12 month low of $89.74 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share 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 the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.07% and a net margin of 3.84%. During the same period in the prior year, the company posted $4.21 EPS. Equities analysts predict that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Analysts Set New Price Targets

A number of analysts have commented on PSX shares. Raymond James lifted their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Wells Fargo & Company increased their price target on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Barclays dropped their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Scotiabank upped 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. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.43.

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.