Mcdonald Partners LLC Reduces Position in Phillips 66 $PSX

Mcdonald Partners LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 31.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 21,943 shares of the oil and gas company’s stock after selling 10,130 shares during the period. Phillips 66 makes up 0.9% of Mcdonald Partners LLC’s portfolio, making the stock its 29th largest holding. Mcdonald Partners LLC’s holdings in Phillips 66 were worth $2,985,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. Evolution Wealth Management Inc. bought a new stake in shares of Phillips 66 in the second quarter worth approximately $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Phillips 66 in the second quarter worth approximately $32,000. Winnow Wealth LLC bought a new stake in Phillips 66 in the 3rd quarter worth approximately $36,000. Twin Peaks Wealth Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth approximately $38,000. Finally, Operose Advisors LLC raised its stake in Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 250 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $159.50 on Wednesday. The company has a 50 day simple moving average of $145.28 and a two-hundred day simple moving average of $137.89. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.30 and a quick ratio of 0.91. The firm has a market cap of $63.92 billion, a P/E ratio of 14.74, a PEG ratio of 0.56 and a beta of 0.86. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $163.79.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The company had revenue of $32.16 billion for the quarter, compared to analysts’ expectations of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same quarter in the previous year, the company earned ($0.15) EPS. Equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Monday, February 23rd will be given a $1.27 dividend. The ex-dividend date is Monday, February 23rd. This is a positive change from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 annualized dividend and a dividend yield of 3.2%. Phillips 66’s dividend payout ratio (DPR) is presently 46.95%.

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $150.00, for a total transaction of $659,100.00. Following the completion of the sale, the executive vice president owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of Phillips 66 stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total value of $1,200,000.00. Following the sale, the executive vice president directly owned 38,488 shares in the company, valued at $6,158,080. This trade represents a 16.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 16,288 shares of company stock valued at $2,496,230. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Citigroup raised their price target on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a report on Tuesday, January 13th. UBS Group restated a “buy” rating and set a $172.00 price target on shares of Phillips 66 in a research note on Friday, February 6th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $162.00 to $163.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley raised their price objective on shares of Phillips 66 from $140.00 to $147.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Eleven research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $160.11.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.