Twin Capital Management Inc. Sells 4,600 Shares of Phillips 66 (NYSE:PSX)

Twin Capital Management Inc. decreased its position in Phillips 66 (NYSE:PSX) by 34.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800 shares of the oil and gas company’s stock after selling 4,600 shares during the quarter. Twin Capital Management Inc.’s holdings in Phillips 66 were worth $1,172,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PSX. Daiwa Securities Group Inc. grew its position in Phillips 66 by 27.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after buying an additional 10,536 shares during the period. Tyche Wealth Partners LLC bought a new position in Phillips 66 during the fourth quarter valued at about $2,093,000. Avior Wealth Management LLC grew its position in Phillips 66 by 1.6% during the fourth quarter. Avior Wealth Management LLC now owns 8,181 shares of the oil and gas company’s stock valued at $1,089,000 after buying an additional 128 shares during the period. West Paces Advisors Inc. grew its position in Phillips 66 by 31.6% during the fourth quarter. West Paces Advisors Inc. now owns 4,343 shares of the oil and gas company’s stock valued at $578,000 after buying an additional 1,043 shares during the period. Finally, Wealth Alliance grew its position in Phillips 66 by 2.4% during the fourth quarter. Wealth Alliance now owns 5,201 shares of the oil and gas company’s stock valued at $692,000 after buying an additional 121 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease acquired 682 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the completion of the acquisition, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 35,056 shares of company stock valued at $5,272,681. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 2.5 %

PSX opened at $153.31 on Friday. The company has a fifty day moving average price of $154.22 and a 200-day moving average price of $135.06. The firm has a market capitalization of $65.59 billion, a P/E ratio of 9.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. Phillips 66 has a one year low of $89.74 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. The firm had revenue of $38.74 billion during the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities research analysts expect that Phillips 66 will post 13.25 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, May 17th. Phillips 66’s payout ratio is 27.15%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PSX. Wells Fargo & Company increased their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Thursday. Barclays upped their price objective on shares of Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday. Scotiabank lifted their target price on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Finally, Mizuho reduced their target price on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.00.

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.