Tarbox Family Office Inc. Sells 200 Shares of Phillips 66 (NYSE:PSX)

Tarbox Family Office Inc. cut its position in shares of Phillips 66 (NYSE:PSX) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,991 shares of the oil and gas company’s stock after selling 200 shares during the period. Tarbox Family Office Inc.’s holdings in Phillips 66 were worth $325,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PSX. DekaBank Deutsche Girozentrale increased its stake in Phillips 66 by 12.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC purchased a new stake in Phillips 66 during the 4th quarter valued at $10,402,000. First Dallas Securities Inc. bought a new stake in Phillips 66 in the third quarter worth $753,000. TIAA Trust National Association boosted its stake in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after buying an additional 3,670 shares during the period. Finally, Daiwa Securities Group Inc. raised its stake in shares of Phillips 66 by 27.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after acquiring an additional 10,536 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a report on Friday, March 15th. The Goldman Sachs Group boosted their price objective on Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. TD Cowen reduced their target price on Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, June 21st. Barclays lowered their target price on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. raised their price target on shares of Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.79.

Phillips 66 Stock Up 1.6 %

NYSE PSX traded up $2.28 during midday trading on Friday, hitting $141.68. 559,901 shares of the company traded hands, compared to its average volume of 2,716,972. Phillips 66 has a 52 week low of $93.40 and a 52 week high of $174.08. The company’s 50-day simple moving average is $143.46 and its 200-day simple moving average is $144.50. The company has a market cap of $60.07 billion, a PE ratio of 10.72, a price-to-earnings-growth ratio of 2.08 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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). The company had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the previous year, the business earned $4.21 EPS. As a group, equities research analysts forecast that Phillips 66 will post 11.22 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Investors of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is 35.38%.

Insider Activity at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $145.80, for a total value of $5,502,783.60. Following the completion of the sale, the executive vice president now owns 48,365 shares of the company’s stock, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate 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.