Phillips 66 (NYSE:PSX) Shares Sold by Symmetry Investments LP

Symmetry Investments LP cut its holdings in Phillips 66 (NYSE:PSX) by 55.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,988 shares of the oil and gas company’s stock after selling 2,449 shares during the period. Symmetry Investments LP’s holdings in Phillips 66 were worth $265,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Warwick Investment Management Inc. increased its stake in Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares during the last quarter. HCR Wealth Advisors lifted its holdings in shares of Phillips 66 by 2.9% during the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after acquiring an additional 74 shares during the period. Nvwm LLC boosted its position in shares of Phillips 66 by 0.9% in the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after acquiring an additional 75 shares during the last quarter. Cardinal Capital Management boosted its position in shares of Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock worth $3,104,000 after acquiring an additional 77 shares during the last quarter. Finally, Richwood Investment Advisors LLC grew its holdings in Phillips 66 by 1.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 4,490 shares of the oil and gas company’s stock valued at $598,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.3 %

NYSE:PSX traded down $1.85 during trading hours on Tuesday, hitting $136.27. The stock had a trading volume of 38,389 shares, compared to its average volume of 2,732,824. The company has a market cap of $57.77 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 1.89 and a beta of 1.37. The business has a 50 day simple moving average of $150.14 and a two-hundred day simple moving average of $143.51. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. During the same quarter last year, the company posted $4.21 earnings per share. Analysts predict that Phillips 66 will post 12.16 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Monday, May 20th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Raymond James cut their target price on Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Bank of America boosted their price target on Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. Finally, Piper Sandler reduced their price objective on Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.93.

Insiders Place Their Bets

In related news, EVP Timothy D. Roberts sold 37,742 shares of the business’s stock in a transaction dated 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 directly owns 48,365 shares of the company’s stock, valued at $7,051,617. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The disclosure for this sale can be found here. Insiders have sold 50,864 shares of company stock worth $7,567,178 in the last three months. 0.22% of the stock is owned by 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.