Phillips 66 (NYSE:PSX) Shares Sold by Doheny Asset Management CA

Doheny Asset Management CA reduced its position in Phillips 66 (NYSE:PSX) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,689 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Doheny Asset Management CA’s holdings in Phillips 66 were worth $757,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cardinal Capital Management raised its stake in Phillips 66 by 0.3% in the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after purchasing an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC raised its stake in Phillips 66 by 3.6% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after purchasing an additional 82 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Phillips 66 by 3.9% in the 4th quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock valued at $302,000 after purchasing an additional 85 shares during the last quarter. Cornerstone Wealth Management LLC raised its stake in Phillips 66 by 1.3% in the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after purchasing an additional 86 shares during the last quarter. Finally, Stratos Wealth Partners LTD. raised its stake in Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after purchasing an additional 90 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Up 3.0 %

Shares of NYSE PSX traded up $4.18 during mid-day trading on Thursday, reaching $144.39. 1,281,800 shares of the company’s stock were exchanged, compared to its average volume of 2,957,595. The firm has a market capitalization of $61.21 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.17. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The company’s 50-day moving average is $155.67 and its 200-day moving average is $137.76.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter in the prior year, the company posted $4.21 earnings per share. Analysts expect that Phillips 66 will post 13.13 EPS 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. Investors of record on Monday, May 20th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.19%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. StockNews.com cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Barclays dropped 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. Bank of America upped their target price on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Raymond James upped their target price on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.43.

Insider Activity at Phillips 66

In related 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 directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction dated Monday, March 18th. The stock was 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock worth $5,272,681 in the last three months. 0.22% of the stock is owned by company insiders.

About Phillips 66

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.