Phillips 66 (NYSE:PSX) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC cut its holdings in Phillips 66 (NYSE:PSX) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,448 shares of the oil and gas company’s stock after selling 240 shares during the period. Carret Asset Management LLC’s holdings in Phillips 66 were worth $2,323,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PSX. Naples Global Advisors LLC acquired a new position in Phillips 66 during the third quarter worth $224,000. Avior Wealth Management LLC lifted its stake in Phillips 66 by 15.1% during the third quarter. Avior Wealth Management LLC now owns 8,053 shares of the oil and gas company’s stock worth $968,000 after purchasing an additional 1,055 shares in the last quarter. Cedar Brook Financial Partners LLC acquired a new position in Phillips 66 during the third quarter worth $219,000. Newbridge Financial Services Group Inc. increased its position in shares of Phillips 66 by 21.7% during the third quarter. Newbridge Financial Services Group Inc. now owns 1,406 shares of the oil and gas company’s stock worth $169,000 after acquiring an additional 251 shares during the period. Finally, Exchange Traded Concepts LLC raised its stake in shares of Phillips 66 by 3,825.0% in the third quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock valued at $207,000 after acquiring an additional 1,683 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 0.6 %

Shares of NYSE PSX traded down $1.02 during trading on Wednesday, hitting $157.82. 1,944,590 shares of the company traded hands, compared to its average volume of 2,965,071. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a 50-day moving average price of $154.93 and a 200-day moving average price of $136.31. The firm has a market capitalization of $67.52 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37. 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 announced its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $34.30 billion. On average, equities analysts predict that Phillips 66 will post 13.45 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio is 27.15%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Raymond James raised their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Citigroup began coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Barclays boosted their price target on Phillips 66 from $139.00 to $155.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. 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, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Buying and Selling

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the company’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 sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s 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 transaction, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated 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 directly owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

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.