TCI Wealth Advisors Inc. Sells 100 Shares of Phillips 66 (NYSE:PSX)

TCI Wealth Advisors Inc. reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,100 shares of the oil and gas company’s stock after selling 100 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in Phillips 66 were worth $280,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 151 shares during the period. Signature Resources Capital Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $33,000. Bruce G. Allen Investments LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $36,000. Bell Investment Advisors Inc grew its stake in Phillips 66 by 82.1% in the 3rd quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock worth $37,000 after buying an additional 138 shares in the last quarter. Finally, West Branch Capital LLC grew its stake in Phillips 66 by 49.5% in the 4th quarter. West Branch Capital LLC now owns 275 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Phillips 66 news, VP Joseph Scott Pruitt sold 7,200 shares of Phillips 66 stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the transaction, the vice president now owns 6,583 shares of the company’s stock, valued at $1,035,242.58. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Richard G. Harbison sold 21,934 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on 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 transaction, the vice president now directly owns 6,583 shares in the company, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders have sold a total of 35,056 shares of company stock valued at $5,272,681 over the last quarter. Company insiders own 0.22% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup began coverage on shares of Phillips 66 in a research note on Wednesday, January 24th. They set a “buy” rating for the company. Bank of America lifted their price objective on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Finally, Raymond James boosted their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Stock Up 1.3 %

Shares of PSX traded up $1.83 during midday trading on Monday, hitting $145.44. The company had a trading volume of 1,344,569 shares, compared to its average volume of 2,936,532. The company’s 50-day simple moving average is $155.55 and its 200-day simple moving average is $138.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The firm has a market capitalization of $61.66 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted 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). The business had revenue of $36.44 billion for the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm earned $4.21 EPS. As a group, sell-side analysts expect that Phillips 66 will post 13.17 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 3.16%. Phillips 66’s payout ratio is presently 32.31%.

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.