Montgomery Investment Management Inc. Trims Holdings in Phillips 66 (NYSE:PSX)


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Montgomery Investment Management Inc. reduced its holdings in Phillips 66 (NYSE:PSX) by 0.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,152 shares of the oil and gas company’s stock after selling 300 shares during the quarter. Phillips 66 makes up 2.0% of Montgomery Investment Management Inc.’s portfolio, making the stock its 15th biggest holding. Montgomery Investment Management Inc.’s holdings in Phillips 66 were worth $5,149,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of PSX. Mascoma Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter worth about $25,000. Klaas Financial Asset Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $26,000. Curi Capital purchased a new position in shares of Phillips 66 in the 4th quarter worth about $28,000. DB Wealth Management Group LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $30,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $31,000. 64.56% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Greg C. Garland sold 158,500 shares of Phillips 66 stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $88.50, for a total transaction of $14,027,250.00. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.63% of the company’s stock.

Shares of PSX traded down $0.98 during midday trading on Tuesday, reaching $82.96. The stock had a trading volume of 51,121 shares, compared to its average volume of 2,794,835. The firm’s 50 day moving average price is $80.65 and its 200-day moving average price is $71.30. The company has a market capitalization of $36.33 billion, a P/E ratio of -13.60, a P/E/G ratio of 3.65 and a beta of 1.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.75. Phillips 66 has a 52 week low of $43.27 and a 52 week high of $90.59.

Phillips 66 (NYSE:PSX) last announced its earnings results on Thursday, April 29th. The oil and gas company reported ($1.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.40) by $0.24. Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. During the same quarter last year, the firm earned $1.02 EPS. On average, equities analysts forecast that Phillips 66 will post -0.65 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 1st. Stockholders of record on Monday, February 22nd were issued a dividend of $0.90 per share. The ex-dividend date of this dividend was Friday, February 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 4.34%. Phillips 66’s dividend payout ratio is 44.72%.

Several equities research analysts recently commented on the company. Raymond James raised their target price on Phillips 66 from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, March 23rd. Mizuho lifted their price objective on Phillips 66 from $70.00 to $96.00 and gave the stock a “buy” rating in a report on Thursday, March 4th. Cowen decreased their target price on Phillips 66 from $83.00 to $80.00 and set an “outperform” rating for the company in a research report on Monday, February 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $65.00 target price on shares of Phillips 66 in a research report on Monday, March 1st. Finally, Barclays lifted their target price on Phillips 66 from $75.00 to $88.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Phillips 66 presently has an average rating of “Buy” and a consensus price target of $83.00.

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 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.

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

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