Herold Advisors Inc. Cuts Stock Position in Phillips 66 (NYSE:PSX)

Herold Advisors Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,028 shares of the oil and gas company’s stock after selling 369 shares during the quarter. Phillips 66 accounts for 1.0% of Herold Advisors Inc.’s investment portfolio, making the stock its 25th largest position. Herold Advisors Inc.’s holdings in Phillips 66 were worth $3,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Cornerstone Planning Group LLC increased its position in shares of Phillips 66 by 134.8% in the third quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 151 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $36,000. Bell Investment Advisors Inc boosted its stake in shares of Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 138 shares during the last quarter. West Branch Capital LLC boosted its stake in shares of Phillips 66 by 49.5% in the fourth quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 91 shares during the last quarter. Finally, Headinvest LLC acquired a new stake in shares of Phillips 66 in the third quarter worth approximately $51,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX stock opened at $151.52 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.02 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $64.82 billion, a PE ratio of 9.79, a P/E/G ratio of 1.90 and a beta of 1.37. Phillips 66 has a 12-month low of $89.74 and a 12-month high of $174.08. The business’s fifty day moving average price is $155.55 and its 200 day moving average price is $136.88.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. During the same quarter in the prior year, the firm posted $4.21 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 13.77 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s payout ratio is currently 27.15%.

Insider Activity at Phillips 66

In related news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the sale, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,056 shares of company stock worth $5,272,681. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PSX. Raymond James lifted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Piper Sandler lifted their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Barclays lifted 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. JPMorgan Chase & Co. lifted their price target on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st. Finally, Scotiabank boosted their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $158.00.

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.