Cary Street Partners Asset Management LLC Sells 1,735 Shares of Phillips 66 (NYSE:PSX)

Cary Street Partners Asset Management LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,781 shares of the oil and gas company’s stock after selling 1,735 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Phillips 66 were worth $5,163,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Planning Group LLC increased its stake in shares of Phillips 66 by 134.8% during 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 during the period. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $36,000. Bell Investment Advisors Inc grew its stake in 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 valued at $37,000 after purchasing an additional 138 shares during the last quarter. West Branch Capital LLC grew its stake in 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 valued at $37,000 after purchasing an additional 91 shares during the last quarter. Finally, Headinvest LLC purchased a new position in Phillips 66 in the third quarter valued at about $51,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were 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 directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction 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 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 quarter, insiders sold 35,056 shares of company stock valued at $5,272,681. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group boosted their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. StockNews.com lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup started coverage on Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating on the stock. Finally, Barclays decreased their target price on Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $157.43.

Phillips 66 Trading Down 2.3 %

NYSE:PSX traded down $3.29 during trading hours on Wednesday, hitting $139.92. The company had a trading volume of 930,612 shares, compared to its average volume of 2,957,400. 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 50-day moving average of $155.74 and a 200 day moving average of $137.75. The company has a market cap of $59.86 billion, a P/E ratio of 11.01, a P/E/G ratio of 1.83 and a beta of 1.37. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results 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 company had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.07%. During the same quarter in the previous year, the company earned $4.21 earnings per share. Sell-side analysts expect that Phillips 66 will post 13.77 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be issued a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.29%. The ex-dividend date is Friday, May 17th. Phillips 66’s dividend payout ratio is currently 32.31%.

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.