Phillips 66 (PSX) Stake Lessened by Brinker Capital Inc.

Brinker Capital Inc. decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,818 shares of the oil and gas company’s stock after selling 3,481 shares during the period. Brinker Capital Inc.’s holdings in Phillips 66 were worth $5,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in shares of Phillips 66 during the 1st quarter valued at approximately $107,000. Pin Oak Investment Advisors Inc. purchased a new position in Phillips 66 in the 4th quarter valued at $119,000. First Dallas Securities Inc. purchased a new position in Phillips 66 in the 4th quarter valued at $143,000. Truewealth LLC purchased a new position in Phillips 66 in the 4th quarter valued at $151,000. Finally, University of Texas Investment Managment Co. purchased a new position in Phillips 66 in the 4th quarter valued at $156,000. Hedge funds and other institutional investors own 69.39% of the company’s stock.

Shares of PSX opened at $118.82 on Friday. Phillips 66 has a 52-week low of $75.85 and a 52-week high of $122.38. The firm has a market capitalization of $55.32 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 1.94 and a beta of 1.07. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.31 and a quick ratio of 0.80.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 27th. The oil and gas company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. Phillips 66 had a return on equity of 10.00% and a net margin of 4.85%. The business had revenue of $24.05 billion during the quarter, compared to the consensus estimate of $29.23 billion. During the same period last year, the company earned $0.56 EPS. sell-side analysts forecast that Phillips 66 will post 7.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Monday, May 21st will be paid a $0.80 dividend. The ex-dividend date is Friday, May 18th. This is an increase from Phillips 66’s previous quarterly dividend of $0.70. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.69%. Phillips 66’s dividend payout ratio (DPR) is 73.06%.

PSX has been the topic of a number of research reports. Cowen restated an “outperform” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Phillips 66 in a report on Wednesday, February 14th. Citigroup decreased their price objective on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating on the stock in a report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $108.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, April 9th. ValuEngine lowered Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Deutsche Bank decreased their price objective on Phillips 66 from $106.00 to $102.00 and set a “hold” rating on the stock in a report on Monday, March 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $106.19.

In other Phillips 66 news, VP Chukwuemeka A. Oyolu sold 6,900 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $120.00, for a total value of $828,000.00. Following the completion of the sale, the vice president now directly owns 8,177 shares of the company’s stock, valued at approximately $981,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.56% of the stock is owned by company insiders.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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