Calamos Advisors LLC Sells 1,011 Shares of Phillips 66 (NYSE:PSX)

Calamos Advisors LLC reduced its stake in Phillips 66 (NYSE:PSX) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 77,450 shares of the oil and gas company’s stock after selling 1,011 shares during the period. Calamos Advisors LLC’s holdings in Phillips 66 were worth $10,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC increased its position in shares of Phillips 66 by 100,843.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company’s stock worth $1,038,646,000 after acquiring an additional 9,969,418 shares in the last quarter. Barclays PLC increased its position in shares of Phillips 66 by 416.9% during the second quarter. Barclays PLC now owns 7,451,470 shares of the oil and gas company’s stock worth $710,721,000 after acquiring an additional 6,009,826 shares in the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the fourth quarter worth about $364,237,000. Wellington Management Group LLP increased its position in shares of Phillips 66 by 62.1% during the first quarter. Wellington Management Group LLP now owns 7,188,087 shares of the oil and gas company’s stock worth $620,979,000 after acquiring an additional 2,753,700 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of Phillips 66 during the fourth quarter worth about $254,336,000. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on PSX. Piper Sandler boosted their target price on shares of Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Bank of America upped their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. upped their price objective 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. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Scotiabank upped their price objective 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. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $158.00.

Insider Activity at Phillips 66

In related news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert W. Pease bought 682 shares of the stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was 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 owns 6,583 shares in the company, valued at $1,035,242.58. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 0.9 %

PSX opened at $154.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The stock has a market cap of $66.20 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 1.90 and a beta of 1.37. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The company’s 50-day moving average price is $154.40 and its two-hundred day moving average price is $135.31.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analysts’ expectations of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. As a group, equities analysts expect that Phillips 66 will post 13.45 earnings per share 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 paid a dividend of $1.15 per share. 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 dividend yield of 2.97%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is presently 27.15%.

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.