Fundamentun LLC Lowers Stake in Phillips 66 (NYSE:PSX)

Fundamentun LLC reduced its position in shares of Phillips 66 (NYSE:PSX – Get Rating) by 8.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,620 shares of the oil and gas company’s stock after selling 2,300 shares during the quarter. Fundamentun LLC’s holdings in Phillips 66 were worth $2,771,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hallmark Capital Management Inc. boosted its stake in shares of Phillips 66 by 62.5% during the 3rd quarter. Hallmark Capital Management Inc. now owns 325 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 125 shares in the last quarter. Horan Securities Inc. lifted its stake in Phillips 66 by 210.6% in the 3rd quarter. Horan Securities Inc. now owns 351 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 238 shares in the last quarter. Align Wealth Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $28,000. Core Alternative Capital lifted its stake in Phillips 66 by 218.3% in the 3rd quarter. Core Alternative Capital now owns 366 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 251 shares in the last quarter. Finally, MADDEN SECURITIES Corp purchased a new position in Phillips 66 in the 4th quarter worth approximately $30,000. 70.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In related news, Director Gregory Hayes purchased 10,250 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 2nd. The stock was purchased at an average cost of $97.75 per share, with a total value of $1,001,937.50. Following the completion of the transaction, the director now directly owns 14,299 shares in the company, valued at $1,397,727.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.74% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Phillips 66 from $121.00 to $120.00 in a report on Friday, March 10th. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating for the company in a report on Thursday, January 5th. Piper Sandler dropped their price target on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating for the company in a research note on Monday, December 19th. UBS Group started coverage on shares of Phillips 66 in a research note on Wednesday, March 8th. They issued a “buy” rating and a $139.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 8th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.27.

Phillips 66 Stock Down 0.3 %

Shares of Phillips 66 stock traded down $0.33 during trading on Friday, hitting $94.72. 10,256,824 shares of the stock were exchanged, compared to its average volume of 3,644,957. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 4.13, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The firm’s 50-day moving average price is $102.53 and its 200 day moving average price is $99.39. Phillips 66 has a 12-month low of $74.02 and a 12-month high of $113.53. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.38 and a quick ratio of 1.17.

Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. The company had revenue of $40.91 billion during the quarter, compared to analysts’ expectations of $34.30 billion. During the same period last year, the firm earned $2.94 earnings per share. As a group, analysts forecast that Phillips 66 will post 15.68 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 17th. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. This represents a $4.20 dividend on an annualized basis and a yield of 4.43%. Phillips 66’s payout ratio is 18.30%.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.