Todd Asset Management LLC Reduces Stock Holdings in Phillips 66 $PSX

Todd Asset Management LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 95.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 9,811 shares of the oil and gas company’s stock after selling 195,310 shares during the period. Todd Asset Management LLC’s holdings in Phillips 66 were worth $1,266,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. increased its holdings in Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company’s stock valued at $414,000 after acquiring an additional 72 shares in the last quarter. L2 Asset Management LLC increased its stake in shares of Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company’s stock worth $257,000 after purchasing an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. raised its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company’s stock worth $2,130,000 after purchasing an additional 73 shares during the last quarter. KCM Investment Advisors LLC lifted its stake in Phillips 66 by 1.6% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company’s stock valued at $631,000 after buying an additional 74 shares in the last quarter. Finally, Abacus Planning Group Inc. lifted its stake in Phillips 66 by 3.9% in the 4th quarter. Abacus Planning Group Inc. now owns 1,989 shares of the oil and gas company’s stock valued at $257,000 after buying an additional 74 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other news, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 114,029 shares of company stock worth $19,641,455 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Stock Up 0.2%

PSX opened at $178.03 on Tuesday. Phillips 66 has a 12 month low of $111.19 and a 12 month high of $190.61. The business has a 50-day moving average of $172.20 and a two-hundred day moving average of $153.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market capitalization of $71.38 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same period in the prior year, the firm posted ($0.90) EPS. The company’s revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that Phillips 66 will post 17.64 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be issued a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PSX shares. Jefferies Financial Group cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. Citigroup boosted their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Barclays raised their price target on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Finally, UBS Group boosted their price objective on shares of Phillips 66 from $172.00 to $212.00 and gave the company a “buy” rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.11.

About Phillips 66

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.