Phillips 66 (NYSE:PSX) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 7.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 29,282 shares of the oil and gas company’s stock after selling 2,404 shares during the period. Vontobel Holding Ltd.’s holdings in Phillips 66 were worth $3,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Cardinal Capital Management raised its holdings in shares of Phillips 66 by 0.3% during the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after buying an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC increased its stake in shares of Phillips 66 by 3.6% during the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares during the period. Cornerstone Wealth Management LLC increased its stake in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock valued at $865,000 after acquiring an additional 86 shares during the period. Stratos Wealth Partners LTD. increased its stake in shares of Phillips 66 by 0.4% during the fourth quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company’s stock valued at $2,958,000 after acquiring an additional 90 shares during the period. Finally, West Branch Capital LLC increased its stake in shares of Phillips 66 by 49.5% during the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Wells Fargo & Company lifted their price target 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. Raymond James lifted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock 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 stock an “overweight” rating in a research report on Monday, April 1st. The Goldman Sachs Group lifted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Finally, Scotiabank lifted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.86.

Phillips 66 Trading Down 0.4 %

Shares of NYSE:PSX opened at $157.28 on Thursday. The firm has a fifty day moving average of $154.09 and a two-hundred day moving average of $134.94. The firm has a market capitalization of $67.29 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 1.99 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The company had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. On average, equities analysts expect that Phillips 66 will post 13.2 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. The ex-dividend date is 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 yield of 2.92%. Phillips 66’s dividend payout ratio is currently 27.15%.

Insider Buying and Selling

In other Phillips 66 news, Director Robert W. Pease acquired 682 shares of the firm’s stock in a transaction that occurred on 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 owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now owns 1,900 shares in the company, valued at $278,502. The disclosure for this purchase can be found here. Over the last three months, insiders sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% of the company’s stock.

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.